Man tries to jump off bridge after losing cryptocurrency money

A young 23-year-old tech professional attempted to jump off a bridge in Kolkata, India after losing approximately R$187,000 in the cryptocurrency market. A taxi driver noticed the situation and alerted the nearby police.

The police managed to stop the young man from jumping off the bridge, known as Vidyasagar Setu. According to local media reports, when asked, the unnamed youth said he had invested in cryptocurrencies using loan money, valuables and even his mother’s pension.

Law enforcement officials said that the young man suffered huge losses in the cryptocurrency market, so he wanted to take his own life.

“The young man told us that he had invested about BRL 187,000 in the cryptocurrency market and lost the money. This led to the victim’s suicide attempt. We have contacted his family and handed him over to his parents.”

Hazards

With all his money gone, he started receiving threatening phone calls from the people who lent him money.

This is not the first suicide attempt on the bridge. Police reported that this was the fourth case where they had prevented suicides on the same bridge.

After several suicide attempts on the bridge and three deaths in the past three months, the police have proposed some measures to prevent such incidents in the future. Suggestions include installing barbed wire, a new outpost and deploying more police in the center of the bridge.

It is important to remember that investing in cryptocurrencies involves risk and should be done with caution and knowledge. It is essential that people take professional advice and understand the risks before investing.

If someone is struggling financially, there are several organizations that offer help and emotional support. Life is precious and there is always hope.

Acceptance of cryptocurrency in India

India has seen a high level of cryptocurrency adoption and the number of users is expected to exceed 150 million by the end of 2023. According to a study conducted by HedgewithCrypto, India ranks seventh in cryptocurrency adoption, with Australia, the US and Brazil leading the list.

Despite the recent decline in the cryptocurrency market cap, which has lost nearly $2 trillion since its all-time high in November 2021, investors continue to show confidence in the asset class and intermediaries.

While some major companies in the sector have gone bankrupt, studies suggest that confidence is still high.

The growing interest in cryptocurrencies in India is driven by several factors, including greater access to technology and a desire to participate in a borderless global economy. In addition, the growing adoption of cryptos by businesses and commercial establishments facilitates the widespread adoption of crypto in the country.

While cryptocurrency adoption is growing rapidly in India, it is important for investors to understand the risks involved and seek professional advice before investing. As with any investment, success depends on careful understanding of the market and careful asset selection.

Source: Live Coins

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