The police are currently conducting an investigation to determine the circumstances surrounding the death of a crypto trader, who might have taken his own life or could have been a victim of foul play.
Authorities have confirmed the identity of the deceased as Ukrainian crypto trader Konstantin Galich, widely known by his alias, Kostya Kudo.
Galich’s body was discovered in a Lamborghini Urus in Kyiv’s Obolonskyi district on October 11. He had suffered a gunshot wound to the head.
Officials have mentioned that a firearm registered in Galich’s name was also located at the site.
The Kyiv Police Department released a statement on Telegram, announcing the initiation of an investigation to ascertain whether the gunshot wound was self-inflicted or if there are signs of foul play.
According to their statement, “the man told relatives that he was feeling depressed due to financial difficulties and also sent them a farewell message.”
The statement further explained: “Investigation and operational groups of the district and main police departments, criminalists and a forensic expert worked at the scene.
“A pre-trial investigation is currently underway, all circumstances of the incident are being clarified.”
Galich’s official Telegram channel also confirmed his passing with a statement.
It stated: “Konstantin Kudo tragically passed away. The causes are being investigated. We will keep you posted on any further news.”
The 32-year-old was respected within both Ukrainian and global cryptocurrency circles, and he co-founded the Cryptology Key trading academy.
Established in 2022, the academy gained recognition for providing in-depth education on crypto trading.
Galich, known for his strategic insights, was trusted for his advice during both flourishing and tough market periods.
Unfortunately, Galich’s reported financial struggles coincide with increased turbulence in the crypto market.
Some believe that a downturn in the industry resulted after former US president Donald Trump announced a 100 percent tariff on Chinese imports along with new export controls on critical software.
CNN notes that the announcement led to an $18 billion cryptocurrency sell-off.
Tributes for Galich have been shared widely on social media.
One Twitter user expressed: “An early Ukrainian crypto investor, builder, and believer, gone far too soon.
“This space moves fast, and sometimes we forget there are real people behind every wallet, every trade, every loss. Please take care of yourselves.”
Another commented: “Heartbreaking to hear this. Markets rise and fall, but no trade is worth a life.”
Meanwhile, many others simply posted ‘R.I.P.’ upon learning of the news.
If you or someone you know is struggling or in crisis, help is available through Mental Health America. Call or text 988 to reach a 24-hour crisis center or you can webchat at 988lifeline.org. You can also reach the Crisis Text Line by texting MHA to 741741.