A college student was found dead in his apartment after losing a lot of money due to the fall of cryptocurrency value. The 20-year-old college sophomore was found dead early in the morning in his apartment room by his mother after dying by suicide.
He was found lying on his bed with a plastic compression pack around his head. A 13L gas tank of helium was also found in his room.
The student took a leave of absence from his university and had been working as a social worker in Busan. After investigating his friends and family, it was concluded that he took his life after a failed investment in cryptocurrency.
He had as much as ₩200 million KRW ($186,000 USD) in cryptocurrency at one point from his investments. However as the Korean government began to crack down on cryptocurrency trading within the country, prices have fallen over 50% from its peak.
Bitcoin’s value peaked at over $19,000 in mid-December. It is currently worth $8,700.
The student had also reportedly been suffering from depression, frequently visited a hospital due to insomnia, where he was prescribed medication.