Ukrainian crypto blogger Kostya Kudo found dead in Lamborghini amid a major crypto market crash, highlighting mental health struggles among crypto traders.
Konstantin Ganich, a Ukrainian crypto blogger, was recently found dead. He was known online by the name Kostya Kudo. He was found dead in a luxury Lamborghini car. This event took place amidst a massive financial crisis in the cryptocurrency market. The unlucky news fueled previous debates on the issue of mental health. Crypto traders and influencers worldwide are usually exposed to these issues.
Crypto Market Crash Volatility Preceded Blogger’s Tragic Death
Digital assets have been extremely volatile. This unstable situation in the market covered the drastic crash of Bitcoin. In particular, Bitcoin plunged by an enormous margin of less than 102,000. This flash crash was confirmed by data from the Binance exchange. BTC subsequently recovered to come to $110,563.5. Overall, the price dropped by 7.03%.
Ether was also too volatile at this time. In fact, ETH went as low as 3,400.00. It later rose slightly to $3,722.30. This movement was a massive 9.11 per cent fall in overall value. This mass market panic came before the tragic occasion.
Related Reading: Crypto News: Here’s Why the Crypto Market is Crashing | Live Bitcoin News
This sharp correction in prices was due to global tariffs and market panic. The overall liquidation was a sum of about $706.2 million. This colossal loss was incurred in a span of 24 hours. Most importantly, of this total, long positions were at a total of $648.5 million. Many high-risk traders are hit by this huge financial strain.
Cryptocurrency is increasingly being adopted in Ukraine. Therefore, a large number of residents are seeking economic sustainability in digital properties. This occurs under strong financial strains on a national level. Ganich was an aggressive supporter of the trading policies at this market disequilibrium. He offered analysis to his followers in the internet.
Police in Kyiv are currently investigating the murder. The victim was known as a 32-year-old resident, Kostiantyn Halych. He had a gunshot wound on his body. In particular, it was discovered in his vehicle in the Obolonskyi district. The location of the deceased was found to have a registered firearm.
Investigation Confirms Financial Distress and Farewell Messages
According to the police, several teams were at the scene immediately. Both the district and main police departments provided investigative teams. There were also forensic experts and a forensic expert. Early inquiries had established the identity of the deceased. He was known as an entrepreneur and a famous crypto blogger.
Konstantin Galich operated his crypto channel. There, he regularly released his articles of analysis of the cryptocurrency market. Moreover, his death was later proven by his family on social media. Such validation gave a good assurance to his followers. The report came as a shock to the crypto community.
Soon, investigators discovered important evidence. In particular, the day before, the deceased had complained of some financial issues. He also wrote goodbye messages to his loved ones. Hence, these facts are a hint at a personal tragedy. This death is now being charged along with the police.
The incident has been subject to a criminal case. It is on Part 1 of Article 115 of the Criminal Code of Ukraine. This is the charge of premeditated murder. But the supplementary legal charge in the case is suicide. The pre-trial investigation is underway to have everything straightened out.
Police officers are trying to demystify every situation. They should know the whole background about the death of the blogger. This is a tragic incident that acts as a strong reminder. It emphasizes the high mental pressures of trading crypto on high stakes. Finally, it revives the demand of enhanced mental health in the unstable financial industry.
