Cryptocurrency trading isn’t for the faint of heart, and unfortunately for one trader, he found this out too late. The trader took his life after he lost 2,000 bitcoins in a single trade. He had placed a bet with a 100x leverage, but the markets didn’t go his way.
The 42-year-old trader wasn’t new to crypto trading. On the contrary, he had been trading for years. He was one of the founders of BTE.TOP, a data analysis company and a crypto-related services provider. According to a report by Chinese crypto outlet 8btc, he had become renowned for making brilliant bets on the crypto market. A look at his WeChat history showed that he had been dishing out advice about where the market was headed shortly before his death.