Korean college student found dead after losing money on cryptocurrency

Men talk in front of an electric board showing exchange rates of various cryptocurrencies at Bithumb cryptocurrencies exchange in Seoul, South Korea.
PHOTO: Reuters

A college student, who lost a considerable amount of money after investing in virtual currency, was found dead in his room Wednesday, after reportedly suffering from depression.

The victim's mother found her son dead in his room Wednesday at 7:50 a.m., according to Busan Jin Police Station Thursday.

The student's family claimed that the victim had originally earned upwards of 200 million won ($188,000) from his investment. Due to South Korean government's regulations to curb the heated market, however, the value of virtual currency dropped in late December, dealing a blow to the student's investment.

As the victim showed signs of depression, he reportedly relied on prescribed sleeping medication.

Police said that he had been attending a high-ranked college as a second-year student. In the first semester of last year, he took medical leave from school, returning to his hometown Busan, where he started working as a social worker in October.

Police plan investigate the case further.


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