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The Terra Luna (LUNA) collapse on May 15, 2022, was a significant event in the crypto market's history, resulting in a 99.999% loss in value and over $7 billion in investor losses. The algorithmic stablecoin, UST, lacked backing and stability, leading to a 40% value drop, which subsequently caused LUNA's price to plummet from $100 to less than $0.002 within a week. The incident highlights the risks associated with investing in altcoins and the importance of caution and thorough research before investing in volatile assets.

Here are the key points:

- Date: May 15, 2022

- Event: Terra Luna (LUNA) cryptocurrency collapse

- Loss in value: 99.999%

- Investor losses: Over $7 billion

- Cause: Algorithmic stablecoin (UST) lacked backing and stability

- Consequences: Terra's founder, Do Kwon, fled and was later apprehended; LUNA and its successor, LUNC, remain largely worthless

- Lesson: Importance of caution and thorough research when investing in altcoins and volatile assets