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Market News

Indian Man attempts Suicide due to Crypto Loss

Written By Dhara Chavda Dhara Chavda
Published 2023-04-10
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Indian Man attempts Suicide due to Crypto Loss

A 23-year-old tech professional from Kolkata, India, attempted suicide by jumping off the Vidyasagar Setu bridge after losing nearly Rs. 30 lakh (approx. $37,500) in the cryptocurrency market.

A cab driver noticed the young man’s intentions and alerted the police, who were able to prevent him from jumping off the bridge.

According to the police, the young man, who is a resident of Sukhobrishti Housing Complex in New Town and an employee of a major IT company in Sector V, attempted suicide as he had incurred significant losses in the cryptocurrency market and was in a state of despair.

The young man, who remains unnamed, had borrowed money from multiple sources, including loans and his mother’s pension, to invest in cryptocurrencies. He had reportedly been receiving threatening calls from those whom he owed money to.

According to police reports, this was the fourth incident of attempted suicide by jumping off the bridge, with two others being prevented.

Also Read: Crypto Users in India Set to Reach 156 Million in 2023

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Dhara Chavda
By Dhara Chavda
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Dhara Chavda is a Research Analyst at The Crypto Times. She covers U.S. crypto regulation — including the CLARITY Act and GENIUS Act — DeFi security and major protocol exploits, and investigations into crypto fraud and enforcement actions. Her work emphasizes primary sourcing and on-chain verification over secondary commentary. Dhara joined The Crypto Times in 2020 and has followed every major market cycle since — the 2021 bull run, the 2022 Terra and FTX collapses, the 2023 banking turmoil, the 2024 spot Bitcoin ETF launch, and the 2025–2026 regulatory cycle — first assigning and reviewing the desk's coverage, and now writing it herself. Her reporting has been cited by international outlets including TheStreet and Argentina's La Nación. She holds a Bachelor of Engineering in Computer Engineering from Gujarat Technological University (GTU), which informs her technical reporting on on-chain data, smart contract analysis, and protocol architecture.

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