Ukrainian crypto investor and influencer Konstantin Ganich, known online as Kostya Kudo, was found dead in a Lamborghini during one of the sharpest cryptocurrency market crashes of 2025, according to local media reports.
Ganich’s death shocked Ukraine’s crypto community, where he had gained prominence for his trading insights and commentary on digital asset adoption. His passing has reignited discussions about the mental health pressures faced by traders and influencers amid the volatility of global markets.
RIP Konstantin Galish
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.
No portfolio is worth your… pic.twitter.com/F3SqIuflnQ
— 0xMarioNawfal (@RoundtableSpace) October 11, 2025
The tragedy coincided with a severe sell-off that saw Bitcoin tumble 9.5% to $111,000, while Solana and XRP dropped nearly 20%. Data from CoinGecko and CoinGlass revealed that the crash triggered over $19 billion in liquidations, largely from leveraged long positions. The largest single liquidation, valued at $203 million, occurred on the Hyperliquid exchange in the ETH/USDT pair.
Analysts attributed the downturn to U.S. President Donald Trump’s threat to impose 100% tariffs on Chinese imports, escalating tensions between Washington and Beijing. The announcement spurred widespread risk aversion, with the S&P 500 and Nasdaq 100 falling 2.7% and 3.5% respectively.
In the aftermath, Crypto.com CEO Kris Marszalek called for regulatory reviews of major exchanges following massive losses. He questioned whether trading platforms had temporarily halted operations, potentially preventing users from responding during the sell-off. Data showed Hyperliquid accounted for $10.3 billion of forced closures, followed by Bybit and Binance, which also faced technical disruptions.
As investigations continue, Ganich’s death underscores the emotional toll of extreme financial volatility. His passing serves as a somber reminder of the human cost behind market turmoil, especially in a nation increasingly dependent on digital finance for stability.
