A crypto mogul has been found dead inside his luxury automobile in Ukraine after the digital currency market nosedived.
Konstantin Galich, 32, also referred to as Kostya Kudo, has died after one in every of the worst turmoils shook the cryptocurrency market.
The entrepreneur, who became a well known figure within the crypto industry, was reportedly found with a gunshot wound to his head in his black Lamborghini parked up in Kyiv’s Obolonskyi neighbourhood.
His death was later confirmed on his Telegram channel in a post saying ‘Konstantin Kudo tragically passed away. The causes are being investigated. We are going to keep you posted on any further news.’
The town’s police department is claimed to have also found a gun registered with Galich on the scene.
He told his family he was ‘feeling depressed as a result of financial difficulties and likewise sent them a farewell message,’ based on the Kyiv police, who’re investigating whether his death was self-inflicted or involved foul play.
His death got here as turmoil hit the worldwide crypto market, with an estimated £14 billion ($19 billion) wiped off inside hours and sending investors into panic.
The meltdown was triggered after the US President Donald Trump threatened to impose fresh 100% tariffs on Chinese imports.
Bitcoin, one in every of the best-known cryptocurrencies, saw its price fall by almost 10% to around $111,500, while the value of Ethereum coins also dropped to a record low over the weekend.
Analysts have said the newest crash is worse than the 2020 volatility which hit the market throughout the coronavirus pandemic.
The markets and cryptocurrencies have since began to recuperate amid Trump’s threats and retaliation fears from Beijing
Galich co-founded the Cryptology Key trading academy, and he spoke at industry events, together with creating content for YouTube.
His death has sparked tributes from across the crypto world.
One trader said: ‘An early Ukrainian crypto investor, builder, and believer, gone far too soon. This space moves fast, and sometimes we forget there are real people behind every wallet, every trade, every loss.’
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