A 23-year-old skilled with a serious tech firm who made round Rs. 3 million (approx. $37,500) within the cryptocurrency market tried suicide by leaping off a river bridge in Kolkata, India.
A cab driver who noticed the youth on the Vidyasagar Setu (bridge) knowledgeable the close by police about his intentions.
Borrowed to put money into crypto
Police managed to cease Takei from leaping into the river from the well-known bridge, media reviews stated, with out naming the youth.
On questioning, the youth instructed the police that he had used the mortgage, valuables and his mom’s pension cash to put money into cryptocurrencies and incurred enormous losses. In latest weeks, he had been receiving threatening calls from individuals who had given him loans. Determined, he determined to commit suicide and got here to the well-known bridge for this function.
In response to the police, this was the fourth incident after they tried to forestall suicide by leaping from the bridge. In two circumstances, he was capable of save them.
Rising Crypto Adoption
India has recorded a excessive crypto adoption charge and is predicted to cross 150 million crypto customers by the tip of 2023. In response to the HedgeWithCrypto research, India is the seventh largest nation by way of crypto adoption, adopted by Australia, USA and Brazil. First, second and third place respectively.
The crypto market has shed almost $2 trillion from its all-time excessive round November 2021, and Traders world wide have had their share of unhealthy luck. Globally, crypto buyers have been additionally hit by the collapse of a number of main corporations previously yr.
However regardless of a chronic crypto winter and a few main corporations failing to outlive, the research means that investor confidence within the asset class and intermediaries remains to be sturdy.
Lack of funding data
However Indian buyers appear to lack data and details about protected crypto buying and selling, and this results in a lot of fraud circumstances. For instance, Bengaluru, which prides itself as India’s largest hub for info expertise corporations and startups, noticed a case of crypto scams in 2022, collectively amounting to Rs. 70 crore (approx. $8.7 million) was defrauded.
Cryptopotato Final month it was reported {that a} B.Com scholar dedicated suicide within the Indian metropolis of Lucknow after dropping $4,200 in a Bitcoin rip-off.
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