Indian student commits suicide after falling victim to Bitcoin scam (Report)
A second-year B.Com student from the Indian city of Lucknow reportedly hanged himself after losing a bitcoin investment worth 3.5 lahks ($4,200).
The local police assured that they will investigate the tragic incident once the victim’s family has filed a complaint.
Depression and then suicide
In accordance coverage by Hindustan Times, the boy distributed the sum through an online crypto investment company that he previously found while using Telegram. The firm promised high returns, and the student transferred over $4,200 in bitcoin.
However, he received no return on his investment. When he asked for his money back, the organization’s representative he was in contact with stopped answering his calls and stopped all communication. The victim felt depressed after the alleged fraud, which provoked him to take the “extreme step” of ending his life.
Police officer Santosh Kumar Arya said the initial investigation showed the investment company was “genuine”. He added that law enforcement agencies will investigate the case adequately if the boy’s family has filed a complaint. Arya also confirmed that the death was a result of suicide, as the student used a piece of cloth to hang himself.
– The body was sent for an autopsy. The report confirmed death due to suicide… According to the preliminary investigation, the boy hanged himself after losing money.
The devastating events of 2022 that caused suicide
Losing money is never easy to deal with, but it can be extremely difficult when the sum is in the millions or represents someone’s entire savings. The infamous one crash of Terra last May resulted in some people taking their own lives due to depression from the severe losses.
A Taiwanese man allegedly jumped from his 13th-floor apartment after parting with nearly $2 million. He previously invested the funds in LUNA – the original ticker of Terraform Labs, which plunged to practically zero in a matter of days last spring.
Daily Mail too informed about people who experienced mental health problems and considered taking their own lives in the days after the collapse. One such person, whose identity was not revealed and who survived a suicide attempt years ago, advised victims to stay strong and be surrounded by loved ones during the tough times.
“Whatever you’re going through, like everything else in life that ever was, shall pass. A brighter day will come and you will be surprised how life will open its doors again for you when you allow it,” he added.
The FTX decline also resulted in millions of investors seeing their funds evaporate within days. A software developer living in the East of England told iNews that he lost nearly $10,000 investing through the former crypto giant.
He was able to overcome the losses, but admitted to having friends who thought about suicide and who had to deal with health problems after the disaster.
