Anti Suicide Investor Hotline Launched in South Korea
A difficult situation is brewing in South Korea. The tension and stress level among investors is growing. In some cases, this ends in a deplorable
On April 24, the suicide of a young crypto-investor, who committed suicide due to a loss of 180,000 dollars, was recorded. The victim was 20 years old. He was a resident of The Town of Kannyn in Gangwon Province.
According to the parents, their son complained that he had lost his peace and sleep due to an investment failure. Police were able to find out that it was a loss of $180,000. However, it is not reported what asset was involved.
Unfortunately, this is not the only attempt to settle scores with life, made among crypto-investors in South Korea. Over the past two months, the country's exchanges have delisted many cryptocurrency assets. Investors suffered losses.
The situation in 2021 is similar to the cryptowinter of 2018, when the decline in the price of bitcoin and many scams among the ICO led to a series of suicides. At that time it was also about young people whose average age was 20 years.
However, in 2021, there is a serious difference that the South Korean authorities are concerned about. In the current bull market in the country has increased the number of investors 20-30 years, that is, the most vulnerable group.
Many young men see cryptocurrency trading as their only source of income. This is due to high unemployment, rising property prices and other economic indicators.
Actually, that is why investors have extremely high levels of stress. The number of people who have suffered losses is off the scale. Therefore, there is a special hotline in the country. Its employees should help to get out of the abyss in which people fall after the financial collapse.
Let's hope that the authorities will be more reasonable and will not plunge numerous investors into cryptocurrencies in even greater despair. The cryptocurrency industry in South Korea needs a breath of fresh air!