List of Crypto Crash Suicide – Learn Deeply, Avoid FOMO

The cryptocurrency market has created countless success stories, but also tragic ones. Every major crypto crash has left behind emotional, financial, and psychological damage for thousands of investors who lost their savings overnight.

Some cases have even ended in suicide, revealing the darker side of speculative trading and the dangers of FOMO (fear of missing out).

This article explores documented cases of crypto-related suicides across major market crashes from 2018 to 2025. It aims to help readers understand the risks, learn from history, and approach crypto investing with caution and self-awareness.

The 2018 “Crypto Winter”: When Hope First Collapsed

The first major wave of crypto suicides emerged during the 2018 bear market, when Bitcoin fell from its $19,800 peak in December 2017 to around $3,200 by the end of 2018.

• India: A 35-year-old investor reportedly took his own life after losing Rs 22 lakh in a crypto scam promising high returns (India Today, 2018).
• South Korea: During the ICO bust, local media reported several suicides as regulators cracked down and portfolios vanished overnight (The Korea Times, 2018).

These early tragedies exposed the mental toll of speculative hype and the false sense of guaranteed profit often sold during bull runs.

QuadrigaCX Collapse (2019): Locked Funds, Lost Lives

The mysterious death of Gerald Cotten, founder of QuadrigaCX, left around $190 million of customer funds inaccessible.

After the exchange collapsed, several investors on Reddit’s r/QuadrigaCX community expressed suicidal thoughts, and moderators issued crisis alerts to affected users (CBC News, 2019).

This case became a landmark in highlighting the lack of investor protection in centralized crypto platforms and the emotional devastation that followed.

Terra (LUNA) Crash (May 2022): The Most Tragic Crypto Meltdown

The Terra-LUNA collapse in 2022 remains one of the darkest moments in crypto history.

When LUNA and UST lost nearly $60 billion in value, multiple suicides were reported:

• South Korea: An investor who lost around $2 million was found dead shortly after the crash (The Korea Herald, 2022).
• Taiwan & Singapore: Telegram groups shared reports of investors taking their lives after life-savings were wiped out (CoinTelegraph, 2022).

Social media saw a wave of despair posts like “I can’t live anymore”, prompting influencers and exchanges to launch mental-health awareness campaigns (BBC News, 2022).

Read more: Investigating Konstantin Galish’s Death: Crypto, Mental Health, and Tragedy

FTX Collapse (November 2022): Trust Shattered Overnight

FTX’s bankruptcy sent shockwaves through the crypto world, erasing billions in user funds.

Reports surfaced of emotional distress among former employees and traders, including an alleged unverified suicide case in the Bahamas (The Independent, 2022).

CNBC later documented traders who lost everything overnight, linking the event to depression and suicidal ideation.

The FTX case underscored how deeply trust and transparency failures can impact real human lives.

The 2023–2024 Market Decline: Lingering Mental Health Toll

Even as crypto markets matured, the long bear stretch of 2023–2024 continued to strain traders’ mental well-being.

A 2023 Journal of Behavioral Addictions study found direct links between problematic trading and suicidal ideation.

By early 2024, Business Insider Africa reported a 22% rise in crypto-related anxiety and self-harm cases globally.

These numbers show that while regulation and awareness improve, emotional and financial burnout remain serious issues in crypto communities.

Read more: Who Was Konstantin Galish? Crypto CEO’s Mysterious Death Amid $30M Market Crash

2025 Case: Kostya Kudo’s Death and Ukraine’s Crypto Shadows

In 2025, Ukrainian crypto fund manager Konstantin Ganich, also known as Kostya Kudo, was found dead in his Lamborghini after reportedly losing millions in investor funds.

Local reports described his death as suicide, though allegations of extortion and corruption surfaced (Futurism, 2025).

Ukraine’s growing crypto sector has been entangled with corruption and pressure, making this case both tragic and politically charged.

Kudo’s story highlights how financial stress, combined with systemic instability, can push individuals to extreme limits.

Final Thoughts

Crypto investing carries immense risk — not only financially, but emotionally. Each crash in this list reveals how unchecked speculation, poor regulation, and FOMO can destroy lives.

Investors should prioritize mental health, financial education, and risk management over hype. No trade is worth a life. Remember: wealth built slowly and wisely lasts longer than any bull run.

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FAQ

What is a crypto crash?

A crypto crash refers to a sharp decline in cryptocurrency prices, often caused by panic selling, regulatory shocks, or over-leveraged positions.

Why do investors commit suicide after crypto crashes?

Extreme losses, debt, and psychological stress from FOMO or scams can push emotionally fragile investors toward despair.

How can I protect my mental health while trading crypto?

Set realistic goals, invest only what you can afford to lose, take breaks from trading, and seek professional help if anxiety or depression appears.

Are crypto scams still common?

Yes. Despite growing regulation, scams like rug pulls and fake trading platforms continue to exploit investor greed and inexperience.

What lessons can we learn from crypto crash suicides?

Avoid chasing hype, understand market cycles, diversify investments, and prioritize personal well-being above quick profits.