NEWS
First Crypto Suicide?

2018-02-02 18:52:28
by Saffron Weale
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First Crypto Suicide?

A young man was found dead on February 1st at his home in South Korea. The Busan Jin Police Station reported that the 20-year-old man had been suffering from depression and that it appeared to be suicide. They will be investigating the case to see if there is any other possible cause of death, but no official report is so far available.


The deceased man was on leave of absence from studying at his college in Seoul, and since October had been engaged in social services in Busan. His mother told police officers that her son had started taking sleeping pills after he had lost a vast sum of money in cryptocurrency trading. Since South Korea and China began moves to regulate the market, prices on exchanges have collapsed in recent months.


The young man's death is another, and unexpected, side effect of the crypto-craze among the millennial generation in South Korea. In spite of the government issuing repeated warnings of the risk, and intentions (unimplemented) to regulate the trade, South Korea still accounts for some 15% of the entire global trade in digital currencies. Since youth unemployment in the country is about 9.9%, many young people believe that decent well-paid jobs are too scarce to count on, and use the new tech as an alternative.

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