Corey Griffin, co-founder of the viral Ice Bucket Challenge, drowned in tragic diving accident early Saturday morning, Aug. 16.

Just hours after raising $100,000 for amyotrophic lateral sclerosis, or Lou Gehrig's Disease, at a fundraiser, the 27-year-old dove off a building located on Straight Wharf into the water off the coast of Nantucket, Massachusetts.

"He floated to the surface, then he sank. He did not come up again," Boston Globe reported. "He was pronounced dead at 3 a.m."

Griffin was a close friend of Pete Frates, 29, who was diagnosed with ALS in 2012. He then helped launch the Ice Bucket Challenge to raise money and awareness for cancer research. According to the ALS Association website, the meaningful worldwide charity has raised reaching $41.8 million so far.

Frates has spoken out about his friend's tragic loss via Facebook: "Team FrateTrain lost a good friend today, Corey Griffin. Helping out was nothing new for Griff. He held is own event for me back in 2012, just a few months after diagnosis. He worked his butt off these last few weeks for ALS. We texted everyday, planning and scheming ways to raise funds and plan events."

Corey Griffin's best friend since childhood, Anthony Aiello, said they actually returned from a trip to Montana just last week: "We went fly fishing, horseback riding, whitewater rafting. He had a blast."

"I just can't stress enough that he was the greatest best friend, brother, and son anyone could ask for," he added. "He lived life to the fullest and everybody loved him. And every time he walked into a room, he put a smile on everybody's face."