AceShowbiz - Stephen "tWitch" Boss wasn't struggling financially at the time of his death. Following his tragic passing in a suicide, there's an online theory circulating that the DJ/dancer and his family were in bad shape financially, which may have pushed him to the edge, but the rumor has since been denied.

According to Media Take Out, the former "So You Think You Can Dance" contestant invested heavily in cryptocurrency, but it proved to be a bad deal in recent months. "[tWitch] was very big into crypto and NFTs. He put a lot of money into them, and for a while he was doing really good," one source told the outlet.

The so-called friend of tWitch said the 40-year-old lost millions of dollars in the failed crypto investments. "[tWitch] lost millions. We talked about it, and he was really stressed out over it," the informant claimed.

While the friend could not say whether it was the huge financial loss that caused tWitch to take his own life, the friend said, "I'm sure it contributed to his mental state."

However, TMZ has begged to differ. Its sources said that there's no truth to the online speculation about his financial state, insisting that tWitch was not experiencing any sort of financial hardship in the time leading up to his suicide. Moreover, law enforcement sources confirm no one from the family has mentioned any sort of financial issues with the 40-year-old star.

Actor Columbus Short was one of those who fueled the speculation that tWitch may have had money issues, but sources stressed that the "Scandal" alum and the former "The Ellen DeGeneres Show" DJ's personal interactions were always directly associated with working environments.

tWitch was discovered dead in the bathroom of his motel room on Tuesday, December 13 after his wife Allison Holker informed police that her husband had left their home without taking his car and wasn't answering his phone, which was unusual behavior. It was later revealed that he checked into the Oak Tree Inn in Encino, California, less than a mile from his home, on Monday and booked the room for only one night. When he missed his checkout on Tuesday, employees went to his room and found him dead in the bathroom from a self-inflicted gunshot wound.

Confirming the sad news of her husband's passing, Allison said in a statement to PEOPLE on Wednesday, "It is with the heaviest of hearts that I have to share my husband Stephen has left us." She continued, "Stephen lit up every room he stepped into. He valued family, friends and community above all else and leading with love and light was everything to him."

"He was the backbone of our family, the best husband and father, and an inspiration to his fans," the dancer added of her late husband. "To say he left a legacy would be an understatement, and his positive impact will continue to be felt. I am certain there won't be a day that goes by that we won't honor his memory. We ask for privacy during this difficult time for myself and especially for our three children. Stephen, we love you, we miss you, and I will always save the last dance for you."