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

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

The man supposedly invested in shares and bitcoin, hinting that a potential loss on his investment could be one reason behind his unnatural death.

Another Indian Jumping off a Bridge

A recent coverage informed that the Indian police found the body floating in the Hooghly River, several miles north of Kolkata. The individual, whose name was not disclosed, had gone missing on April 16.

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

A further investigation, though, estimated that he might have invested some funds in stocks and bitcoin, whereas a downturn in those investments could have pushed him to end his 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. A thorough investigation will try to determine the motive behind the potential suicide.

The police of Kolkata had to cope with another similar case earlier this month when a 23-year-old man tried to jump off a river bridge. The individual explained 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 allocate only as much as they are ready to lose. As CryptoPotatoreported 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.

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