A crypto mogul has been found dead inside his luxury car in Ukraine after the digital currency market nosedived.
Konstantin Galich, 32, also known as Kostya Kudo, has died after one of the worst turmoils shook the cryptocurrency market.
The entrepreneur, who became a well-known figure in 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 will keep you posted on any further news.’
The city’s police department is said to have also found a gun registered with Galich at the scene.
He told his family he was ‘feeling depressed due to financial difficulties and also sent them a farewell message,’ according to the Kyiv police, who are investigating whether his death was self-inflicted or involved foul play.
His death came as turmoil hit the global crypto market, with an estimated £14 billion ($19 billion) wiped off within 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 of the best-known cryptocurrencies, saw its price fall by almost 10% to around $111,500, while the price of Ethereum coins also dropped to a record low over the weekend.
Analysts have said the latest crash is worse than the 2020 volatility which hit the market during the coronavirus pandemic.
The markets and cryptocurrencies have since started to recover amid Trump’s threats and retaliation fears from Beijing
Galich co-founded the Cryptology Key trading academy, and he spoke at industry events, along 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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