Main page » Crypto News » Indian Investor Committed Suicide After Losing Money on Bitcoin (Report)
Crypto News

Indian Investor Committed Suicide After Losing Money on Bitcoin (Report)

Indian Investor Committed Suicide After Losing Money on Bitcoin (Report)

A 49-year-old resident of Kolkata, India drowned in the Hooghly River and the primary autopsy found no evidence of violence, suggesting he committed suicide.

Reports suggest that the man invested in shares and bitcoin, indicating that a potential loss on his investment could be one reason behind his unnatural death.

Another Indian Jumping off a Bridge

According to recent coverage, the Indian police found the body of an individual floating in the Hooghly River, several miles north of Kolkata. The individual went missing on April 16, and their name was not disclosed.

A close relative of the deceased told law enforcement agents that the victim did not seem to have any major issues. They lived with their wife and son in a flat on Roy Bahadur Road – one of Kolkata’s prime areas.

A further investigation, though, estimated that the victim might have invested some funds in stocks and bitcoin, whereas a downturn in those investments could have pushed them to end their life.

A local police officer thinks it is too early to arrive at the conclusion that dealing with BTC might have played a role in the tragedy.

“He was in service, but we don’t know anything about his investments, leave alone investments in Bitcoin. We also don’t know why he went near the river. We would request all not to jump to a conclusion,” the policeman added.

The victim’s family has not filed a complaint against a possible murder, and a thorough investigation will try to determine the motive behind the potential suicide.

Earlier this month, the police of Kolkata had to deal with a similar case when a 23-year-old man tried to jump off a river bridge, explaining he wanted to commit suicide because he suffered severe losses from investing in cryptocurrencies.

The Suicide in Lucknow

Investing in digital currencies hides its risks, and people should only allocate as much as they are willing to lose. As CryptoPotato reported in March, a second-year B.Com student from the Indian city Lucknow did not follow that guidance and hanged himself after parting with a $4,200 BTC investment.

The boy was caught in a crypto scam that promised high returns. Nonetheless, he did not receive any yield, while the scheme’s representatives he was in touch with ceased communication with him. The victim felt depressed and took his life shortly after realizing the fraud.

“The body was sent for post-mortem. Its report confirmed death due to suicide… According to the preliminary investigation, the boy hanged himself after losing money,” the police stated.