A prominent cryptocurrency trader has been discovered dead inside his luxury Lamborghini following one of the most devastating market crashes in digital asset history.
Konstantin Galich, better known by his online persona Kostya Kudo, was found on Saturday with a gunshot wound to the head inside a black Lamborghini Urus in Kyiv, Ukraine.
Police confirmed that a firearm registered in the 32-year-old’s name was recovered at the scene in the Obolonskyi district of the Ukrainian capital.
Investigators are treating the case as a possible suicide but have not ruled out foul play, with a criminal investigation launched under the premeditated murder statute.
Farewell Message Sent to Family
A statement from the Kyiv Police Department revealed that the day before his death, the man told relatives that he was feeling depressed due to financial difficulties and also sent them a farewell message.
The police statement added that investigation and operational groups, criminalists and a forensic expert worked at the scene, with all circumstances of the incident being clarified.
News of the Ukrainian’s death was confirmed on Galich’s official Telegram channel, which posted a brief statement saying Konstantin Kudo tragically passed away, adding that the causes are being investigated.
The channel promised to keep followers posted on any further news regarding the circumstances surrounding his death.
Rising Star in Digital Asset World
Galich was the co-founder of the Cryptology Key trading academy, established in 2022, which became renowned for its comprehensive cryptocurrency trading education programmes.
He was a major influencer in the digital asset space and a widely followed figure across the crypto community, with more than 66,000 Instagram followers hanging on his market insights and trading strategies.
Friends and followers remembered Galich as a passionate advocate for crypto education in Eastern Europe, with his YouTube and Telegram channels frequently exploring blockchain trends and market psychology.
His content had demystified complex blockchain ideas and market risks for thousands of investors, earning him both respect and affection across the trading community.
Historic Market Meltdown
His death came as the cryptocurrency sector was rocked by one of its steepest plunges in years, described by analysts as the largest liquidation event in crypto history.
The crash was triggered by President Donald Trump’s bombshell announcement of a sweeping 100 per cent tariff on Chinese imports, alongside new export controls on critical software.
Trump declared in a post on Truth Social that starting November 1, the United States will impose a tariff of 100 per cent on China, over and above any existing tariffs.
The move sparked panic among investors and a cascade of liquidations, with data from CoinGlass showing nearly £15 billion ($19 billion) worth of positions wiped out within 24 hours.
More than 1.6 million trading accounts were liquidated as exchanges automatically sold off collateral, with roughly £13 billion of those being long positions from traders betting on price increases.
Bitcoin and Ethereum in Freefall
Bitcoin tumbled more than 10 per cent, crashing from around £96,000 ($122,000) to below £87,000 ($110,000) at its lowest point during the sell-off.
Ethereum saw an even sharper percentage drop, plunging from above £3,400 ($4,300) to roughly £2,660 ($3,373) at its nadir, representing an 18 per cent intraday crash.
Other major cryptocurrencies suffered devastating losses, with XRP, Solana and Dogecoin crashing between 19 and 30 per cent within hours.
The total cryptocurrency market capitalisation fell from around £3.4 trillion ($4.25 trillion) to £3.2 trillion ($4.05 trillion), wiping out nearly £160 billion ($200 billion) in value.
In the first hour of the cascade alone, more than £5.5 billion ($7 billion) worth of long positions were blown out as stop-losses and margin calls kicked in.
One investment expert described the event as unlike anything witnessed in over a decade of investing, noting how order books thinned out dramatically during the freefall.
Trade War Escalation
Vice President JD Vance defended Trump’s decision, calling China’s dominance over US supply chains the definition of a national emergency.
Speaking on Fox News Channel’s Sunday Morning Futures, Vance said it’s going to be a delicate dance and a lot of it is going to depend on how the Chinese respond.
He added that if China responds in a highly aggressive manner, the president has far more cards than the People’s Republic of China.
Vance stressed that if China is willing to be reasonable, then Donald Trump is always willing to be a reasonable negotiator, adding that they hope China chooses the path of reason.
The Vice President emphasised that the president of the United States is going to defend America regardless of China’s response.
China Strikes Defiant Tone
China, meanwhile, struck a defiant tone in response to the unprecedented tariff threat.
The country’s Commerce Ministry issued a statement declaring that China’s stance is consistent, adding that they do not want a tariff war but are not afraid of one.
The ministry warned that if the US persists in acting unilaterally, China will resolutely take corresponding measures to safeguard its legitimate rights and interests.
The rapid escalation of trade tensions between the world’s two largest economies has sunk stocks globally, rattling investors and industries by igniting fears of a repeat of the tit-for-tat tariff battle earlier in the year.
Mental Health Crisis in Crypto
Galich’s death has reignited discussions about the mental health pressures faced by traders and influencers amid the extreme volatility of digital asset markets.
Ukraine has seen growing cryptocurrency adoption as residents seek economic resilience amid national financial pressures stemming from the ongoing conflict.
The incident highlights the immense psychological toll on professional traders and crypto entrepreneurs, whose personal fortunes are intimately tied to market swings.
Tributes flooded social media for Galich, with one prominent crypto figure writing that he was an early Ukrainian crypto investor, builder and believer, gone far too soon.
The post added that the space moves fast, and sometimes people forget there are real people behind every wallet, every trade, every loss, urging others to take care of themselves.
Another mourner said it was heartbreaking to hear the news, adding that markets rise and fall, but no trade is worth a life.
Authorities continue to investigate the full circumstances of Galich’s passing, whilst the crypto industry is left to reckon with both the scale of the recent market crash and its very human cost.
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If you or someone you know is struggling with mental health issues, please contact the Samaritans on 116 123 or visit samaritans.org
