The young programmer was shaken by the intimidating phone calls he received from individuals from whom he had borrowed and invested in cryptocurrencies.
A 23-year-old employee of a prominent technology company who lost approximately Rs. 30 lakh (approximately $37,500) on the cryptocurrency market attempted suicide by leaping off a bridge in Kolkata, India.
A taxi driver who observed the young man on the Vidyasagar Setu (bridge) informed the adjacent authorities of his plans.
The police were able to prevent the technician from leaping off the famous bridge into the river, according to unnamed media reports.
The young man told the police that he had invested money from loans, valuables, and even his mother’s pension in cryptocurrencies and suffered significant losses. In recent weeks, he allegedly received menacing phone calls from individuals who had lent him money. Despondent, he resolved to commit suicide and traveled to the famous bridge to do so.
According to the police, this was the fourth time they attempted to prevent bridge-jumping suicides. In two instances, they were successful in rescuing them.
India has reported a high rate of crypto adoption, and by the end of 2023, the number of crypto consumers is expected to surpass 150 million. According to a study by HedgewithCrypto, India ranks seventh in terms of crypto adoption, behind Australia, the United States, and Brazil.
Since its all-time high in November 2021, the crypto market has lost nearly $2 trillion in value, and investors have had their share of poor luck. In the past year, the failures of some of the world’s largest companies impacted crypto investors globally.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.