Kostya Kudo committed suicide after being liquidated of $65M

[Ruttoshi]

I saw this post on X and decide to bring it here for newbies and traders to learn from.

In Kyiv, a man known in certain circles as Kostya Kudo has reportedly shot himself.

According to my information, he used an award firearm personally presented to him by Kyrylo Budanov.

Kudo was the co-founder of the company Cryptology. He drove a Lamborghini.

From what my sources say, he took his own life after Trump announced the 100% tariffs on China.

Apparently, he couldn’t handle the pressure anymore. There was a lot at stake.

Last year, he managed around 65 million dollars.

He took funds under a 7% quarterly rate.

About 10 million of that belonged to the GUR (Ukrainian military intelligence).

The rest came from many influential people in Kyiv — including several officials, some of whose names I know.

This morning, many of them woke up in a bad mood.

They had invested money with him, and for three years, the scheme had been working.

He traded futures, very cautiously. But a market crash overnight triggered massive liquidations, and he simply bankrupted everyone involved.

Before that, they had scammed a token — losses there also reached millions.

He was crushed by that failure. And then came Trump’s announcement…

That’s why Kostya left us.

https://x.com/splinter0n/status/1976980545004617988?t=LEeO8E6BooNzUVw2ikhuCw&s=19


This is a lesson for traders that they shouldn't be overconfident in themselves that they are professional traders and trade with more than the amount of money that you can afford to lose because the market is unpredictable and traders run at loss in the long run no matter how professional you are in the trading field.

Look at how Kostya Kudo committed sucide because he was liquidated of $65M on future trading after Trump announcement of 100% tariff on imported goods from China. Trading is a way to wreck you in future. Simply buy and hodli for a long term because I haven't heard of any long-term hodler that run at loss for hodli his bitcoin.

Newbies should be careful with the way they are rushing into trading and shitcoins because making profits in trading and shitcoin is easily said than done. Choose the right path in the cryptospace by investing in bitcoin for your future.

Do you think trading is similar to gambling because it messes with our emotions whenever, we open a position.

[Odusko]

Oh another sad story of a trader that took his own life, i think someone have made a posts about this, he Kostya is an influential figure in the cryptocurrency space and this dead is a big warning for everyone that over reliance on the market is a risk, and trading with other people money isna bigger risks too, may his soul rest in peace, this thread gave a more clearer insight into the incident than the first thread that reported this incident.

[Asiska02]

It is sad to hear this news but sincerely there is nothing worse than hearing someone committing suicide because of loss they accumulated. There is nothing worth taking your own life when life itself is full of up and down. Today you lose, tomorrow you win, it’s just like a taste of fate.

As for Kostya, I don’t see him as a good trader because a good trader won’t get liquidated of the market if they’d applied proper risk management. You’re trading for people and you don’t apply a very good risk management means you’re just a gambler or a lucky trader. Just by placing a stop loss could have saved him liquidating that huge amount of money.

Traders that get overly confident should learn from this. The market is unpredictable no matter how good you are as a trader, losses are inevitable and they can come at anytime and in whatever form that could cause you minimal loss when you risk wisely or ultimate loss when you risk recklessly.

[JeromeTash]

It should have been fine if it was only his funds but handling other people's funds takes another level of responsibility. I have a very bad experience trying to trade for people, and it's something I will never do again, however much they offer me. It gives you much more stress and pressure and with that the decision-making will be messed up

Also, given that he was a seasoned trader, why not minimize risk with the different risk management tools in case of a market crash?

[Charles-Tim]

Hope he is not the same person which was talked about here: https://bitcointalk.org/index.php?topic=5562026.msg65908242#msg65908242

They have different name but they are both driving Lamborghini. I think it will be a different news. People should really be very careful of leverage trading and altcoins.

[Mrbluntzy]

The message said that he has been trading with caution and making profits for years, so why would he take his own life meanwhile he might still recover from the big loss after some years? I'm guessing that he did that probably because all the money that was lost is not entirely his own. What I learned from this message is that a trader should not even take investments from friends or people who wants you to trade for them and pay them in percentage, even if you would take investments, let there be an agreement of how the lose would be shared if you get liquidated because what killed some people or makes some people to kill themselves in this kind of situation is because of the pressure that engrossed them knowing that all the money that was liquidated is not entirely theirs but some people investments in them.

[LogitechMouse]

I saw this post on X and decide to bring it here for newbies and traders to learn from.
---
Do you think trading is similar to gambling because it messes with our emotions whenever, we open a position.

This is what I saw yesterday hours before the massive "Trump Dump" happened, and I will not be surprised if he's not the only one that took his own life because of what happened with the market.

I feel sorry for him, but whenever I lose money in trading especially when I'm getting liquidated in the past, I always say to myself "My life is way more expensive than the money that I lost." Money can be earned, but life can't. I know that the person OP shared lost a significant amount of money, and it's also not his own money, but others as well. This incident teaches us traders one lesson and that is "ALWAYS PUT A STOP-LOSS." Those who got liquidated are the ones that didn't put a stop-loss on their trader either intentionally or by accident.

Now to answer your question, no it isn't. In gambling, you can't increase your chances of winning because it's all about luck. In trading, you can increase your chances in trading if you know how to make decisions. In gambling, you don't have any stop-loss there and if you bet 100$, you'll lose $100. In trading, there's a thing called stop-loss where you can minimize your losses based on how much you're willing to risk. There's still many reasons as to why trading isn't similar to gambling at all.

[nelson4lov]

After that blowout yesterday, I knew there would be many of such cases. I'm very sure there are more deaths from suicide due to the market crash yesterday but not all of those deaths will be made known on social media. I know even some projects and firms collapsed yesterday. We will know about those in the days/weeks/months to come.

Sad to read this and this is exactly why I never started a fund to take people's money and invest in crypto because you share all the gains but all the losses are directed at you even though you're the one constantly putting the work for the past performance.

At the end of the day:

99 good + 1 bad = bad

[Mpamaegbu]

Look at how Kostya Kudo committed sucide because he was liquidated of $65M on future trading after Trump announcement of 100% tariff on imported goods from China.

In solidarity with the deceased family, I will be providing them a legal representation through my lawyer if they decide to go to court and sue Donald Trump 🧐. I believe it's a winnable case. Trump killed that man. Anyone can argue it, back or forth with their keyboard.

Anyway, I don't know why the type of car he drove was mentioned in that news article "He drove a Lamborghini". Perhaps, it's to depict that he led a lavish lifestyle? His perceived lavish spending may even cause those who invested with him to doubt that he didn't squander their money before the bloodbath that led him to take his own life.

Again, I also find "About 10 million of that belonged to the GUR (Ukrainian military intelligence" a depiction of why he ended it all. The dude didn't want his ass whooped by his military investors.

Just musing.

I also read of a trader who profited from that Trump comment. The trader took a short position 30 minutes before Trump dropped that bombshell and made over $200 million in profit. I believe there was an insider information that helped that trader.

[Rruchi man]

Look at how Kostya Kudo committed sucide because he was liquidated of $65M on future trading after Trump announcement of 100% tariff on imported goods from China.

I wonder if he would have committed suicide if it was only his own money he lost? I am thinking that he came under pressure and committed suicide because it is not only his money he lost.

Newbies should be careful with the way they are rushing into trading and shitcoins because making profits in trading and shitcoin is easily said than done.

This was an eye-opening experience for most persons who have an interest in trading. The clear situation that trading puts most persons who have been in it for long is a warning for them that if you must trade, you must be extremely cautious, watch emotions, never get too overconfident in the market, don't trade with people's money, and don't over-leverage.

Do you think trading is similar to gambling because it messes with our emotions whenever, we open a position.

The importance of developing your psychology has always been emphasized in trading. If you have poor psychology, you will be affected by emotions easily both in trading and gambling.

[JeffBrad12]

After that blowout yesterday, I knew there would be many of such cases. I'm very sure there are more deaths from suicide due to the market crash yesterday but not all of those deaths will be made known on social media. I know even some projects and firms collapsed yesterday. We will know about those in the days/weeks/months to come.

Sad to read this and this is exactly why I never started a fund to take people's money and invest in crypto because you share all the gains but all the losses are directed at you even though you're the one constantly putting the work for the past performance.

At the end of the day:

99 good + 1 bad = bad

I can't imagine the burden of managing other people's money. Probably the weight is so immense and when the crash happened, that's the last straw.
Just imagine losing money that we don't even own just because of a damned dip that lasted 5 seconds and go back up again, that'd be horrible.

[TheUltraElite]

Dude was riding the high life, managing funds from influential people, owning money for military intelligence. I can be assured that I would never take part in something like that, but only keep my hands on money I have and can afford to lose.

There might be more to this story, we are probably seeing only the superficial facts. Market dumps are happening everyday but its not something that is more important that life. However such stress is tough to control and keep the clients calm at the same time.

RIP

[Free Market Capitalist]

Well, first of all, may he rest in peace.

Dude was riding the high life, managing funds from influential people, owning money for military intelligence. .

It looks like he leveraged his life to achieve an Instagram-worthy lifestyle, with Lamborghinis and such. But of course, leverage equals risk, and more leverage equals more risk. If we add to that the fact that the leverage was on a shitcoin, we arrive at the disaster that occurred.

Lesson for all of you who are starting to use leverage: never put yourself in a position where a statement by Trump or anyone else could get you liquidated.

[knowngunman]

We now live in a world where we value money than our lives, It's a sad reality. This is the second thread I'm reading this morning with similar case of people dying over the recent market crash. At first, I thought it is the same event that's coincidentally posted multiple times but unfortunately it is a different case. This is the link to the first one I read before coming across this one Do not be this man. It's disgusting how people decide to take their own life once they lose reasonable amount of money this days. Losing your money and at the same time losing your life again won't solve the problem or bring back your money, you can only cause excess pain to your love ones. Being a trader should be about risking your money and not risking your life.

[Dr.Bitcoin_Strange]

He was not the only person that was affected, if others who were affected also committed suicide, does that solves any problem or would that stop the market from being liquid? Trading is not easy, even the night I busted my account, I had difficulty to sleep that night, I was restless and feeling disturbed in my mind because that was actually was paid to me from my job and I deposited a large amount to the exchange I was using to trade, then this kind of liquidity sweep also happened that night and took out all my capital, I didn't kill myself that was because I had hope that I will recover from the pain and will also recover the money.

[Webutxo]

He was not the only person that was affected, if others who were affected also committed suicide, does that solves any problem or would that stop the market from being liquid? Trading is not easy, even the night I busted my account, I had difficulty to sleep that night, I was restless and feeling disturbed in my mind because that was actually was paid to me from my job and I deposited a large amount to the exchange I was using to trade, then this kind of liquidity sweep also happened that night and took out all my capital, I didn't kill myself that was because I had hope that I will recover from the pain and will also recover the money.

Human beings thinks differently, maybe he is emotional and not a string hearted person. But if he can make that amount of money, why not think he can do it again. Taking a precious life doesn't solve anything rather you are putting your love ones into pain of losing you again. I'm very sure that another trader somewhere has made the same amount of money and now he is gone, his absence didn't affect the market for once.

[m2017]

Many will probably blame Trump for crashing the market and affecting the lives of many. But don't be so quick to do so. Trump could have been anyone, and the 100% tariffs on Chinese imports could have been any other event. Specific individuals and events aren't important, but rather that the future is extremely uncertain and risky, and therefore, trading, just like gambling (I believe so), depends solely on luck (being in the right place at the right time and taking the right action). As a trader, you predict one course of events, while reality creates a completely different outcome. That's the real market (cruel and merciless). In a rising market, anyone can feel like the perfect trader, but similar sudden events that have occurred in the market put everything in its place. It's immediately clear who's a professional trader and who's just hoping for luck, hitting a lucky streak only to have it quickly broken by a major bout of bad luck. Never overestimate your abilities and try to act rationally.

The "festivity" can't last forever. The history of bitcoin demonstrates this repeatedly. Do traders learn anything from past experience? I don't think so, because with every market crash, of which there have been many and there will be more in the future, there will always be losers.

[macson]

I can't imagine the immense pressure he must have faced to face such a significant loss, so I won't comment further on this and will simply offer my condolences.

But this should serve as a lesson for all of us about the riskiness of futures trading. If we can't handle the risks involved, then we shouldn't be involved. And if we've decided to engage in futures trading, we should be prepared for everything and set a risk tolerance limit.

If we underestimate the risk and become overconfident that the market will always behave this way or that, we'll be overcome by emotion and lose our ability to think rationally. And in the end it might be a loss we can't handle.

[tvplus006]

Hope he is not the same person which was talked about here: https://bitcointalk.org/index.php?topic=5562026.msg65908242#msg65908242
They have different name but they are both driving Lamborghini. I think it will be a different news. People should really be very careful of leverage trading and altcoins.

Judging by the photo posted in that post, this is Kostya Kudo. But the real reason for this suicide, or maybe murder, we'll never know at all. What is clear now is that the cause of the tragedy was the fatal loss of money, which was triggered by the announcement of the resumption of the trade war with China.

[nelson4lov]

~Snip

I can't imagine the burden of managing other people's money. Probably the weight is so immense and when the crash happened, that's the last straw.
Just imagine losing money that we don't even own just because of a damned dip that lasted 5 seconds and go back up again, that'd be horrible.

It's very tempting to take money from people to invest. You can enter the market with a few dollars and it would do 5x to 10x which is fine. That alone pumps up the greed and you'd start thinking "what if it wasn't just a few dollars but thousands or millions?" Managing people's money is all good when it's in profit until when shit hits the fan like it did on Friday. That's when you'll know you've dug a gole so deep you'll never be able to come out.