By Kwak Yeon-soo
A man in his early twenties was found dead at his home in Busan in what appears to be a suicide, police said Thursday.
According to the Busan Jin Police Station, the man was suffering from depression after losing a large amount of money trading cryptocurrencies.
The mother of the deceased told officers that her son had been taking sleeping pills after losing a huge sum of money trading cryptocurrencies following the collapse of prices on exchanges in recent months.
The 20-year-old had been performing social services, an alternative to military service, in his hometown of Busan since October after taking a leave of absence from his college in Seoul.
The death of the young man is the latest "side effect" from the cryptocurrency craze among 20-somethings.
Despite the government's continued warnings and regulatory moves, cryptocurrencies have rapidly gained popularity among young investors hoping to make quick money.
Many believe jobs that come with decent pay are scarce and buying a home through savings is nearly impossible in South Korea. Last December, youth unemployment marked an all-time high of 9.9 percent.
The police plan to investigate the exact cause of death but have not confirmed when they will release an official report.
"We will examine the case further and search for any other possible cause of death," said a police officer.
A man in his early twenties was found dead at his home in Busan in what appears to be a suicide, police said Thursday.
According to the Busan Jin Police Station, the man was suffering from depression after losing a large amount of money trading cryptocurrencies.
The mother of the deceased told officers that her son had been taking sleeping pills after losing a huge sum of money trading cryptocurrencies following the collapse of prices on exchanges in recent months.
The 20-year-old had been performing social services, an alternative to military service, in his hometown of Busan since October after taking a leave of absence from his college in Seoul.
The death of the young man is the latest "side effect" from the cryptocurrency craze among 20-somethings.
Despite the government's continued warnings and regulatory moves, cryptocurrencies have rapidly gained popularity among young investors hoping to make quick money.
Many believe jobs that come with decent pay are scarce and buying a home through savings is nearly impossible in South Korea. Last December, youth unemployment marked an all-time high of 9.9 percent.
The police plan to investigate the exact cause of death but have not confirmed when they will release an official report.
"We will examine the case further and search for any other possible cause of death," said a police officer.
