Spend any time on the crypto currency subreddits and you’ll find dozens of people who took out >$20k loans to buy cryptocurrency. There are people still doing it. My co-working office space was filled with people in December talking non-stop about buying crypto currency, although all the crypto currency traders are long gone now.

I don’t think people losing tens of thousands are the norm but absolutely there is a never ending list of people who’ve lost most of what they put in, whether that was hundreds or low thousands.