(MENAFN) Konstantin Ganich, a well-known Ukrainian cryptocurrency trader and online personality also known as Kostya Kudo, was found dead from a gunshot wound in a parked car early Saturday, according to several Ukrainian media reports. Police are treating the incident as a suspected suicide, amid claims of massive financial losses and possible blackmail.

Authorities say a firearm discovered at the scene was registered in Ganich’s name. While officials did not initially identify the victim, they confirmed he was an “entrepreneur and blogger, whose activities were connected with cryptocurrencies.”

The 32-year-old's death came less than 24 hours after global crypto markets suffered one of the worst crashes of 2025, triggered by a major U.S. trade announcement. On Friday, President Donald Trump revealed sweeping 100% tariffs on all Chinese imports effective November 1. He cited Beijing’s “extraordinarily aggressive” export restrictions on dual-use strategic minerals. The news sent shockwaves through financial markets, with nearly $19.33 billion in crypto positions wiped out, according to analysts.

Shortly before his death, Ganich had “told his relatives about his depressed mood due to financial difficulties shortly before his death, and sent them a farewell message,” Unian reported, quoting unnamed sources close to the investigation.

Later that day, a post on Ganich’s Telegram channel confirmed the news, stating the trader “had tragically perished.”

According to Unian, citing anonymous sources, Ganich may have lost up to $30 million—a combination of client investments and personal funds—amid the market downturn. The outlet also reported that his clientele allegedly included unnamed Ukrainian officials and “influential people,” and that he may have had links to Ukraine’s Main Directorate of Intelligence.

However, the suicide theory has been called into question by other unnamed sources quoted by Unian, some of whom claim Ganich had recently been blackmailed by law enforcement figures.

Authorities have not released a final ruling on the cause of death, and investigations are ongoing.

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