Indian trader committed suicide after being threatened by senior police officers after suffering losses during unstable bear market.
The trader, Bharat Patel, hanged himself and left a note to his wife explaining how the Narmada police deputy, along with his brother, had threatened him because of the heavy losses he had suffered in the crypto market.
Bharat Patel explained that the crypto market was unstable and the price fluctuations. That’s why he has lose all the investement fund. The brothers had invested only 5 BTC units, yet asked them to return 11.575 BTC
According to a local news bulletin, the trader committed suicide in the Indian province of Gujarat and left a message explaining the reasons behind his suicide and the names of the individuals who led him to commit suicide.
Deputy Chief of Police Narmada came to my house to contribute and invest in return for 5 BTC. After the losses were incurred because of the devaluation, the Deputy Chief of Police of Narmada and his brother requested 11.575 BTC. I am overwhelmed by their demands and my life is not worth living under threat. I was forced to commit suicide and these two people are responsible for my act
After his death, he appealed to his daughter to be separated from Narameda police chief, looking for different trustful ways to investigate. She also told the reporters:
We did not provide the police with my father’s phone or any of his equipment because we do not trust the local police. We fear that the evidence on these devices will be destroyed, and we seek to reach senior police officials to conduct a fair investigation into the case
According to his family, the trader has agreed to return 5 BTC to the brothers in installments. But they demanded the full amount invested at the beginning of the fund regardless of the losses suffered by the trader.
Always be safe in the wild crypto-market
Please note, that is not w bit of financial advice, nor the WhaleToBe team’s view