According to data from Glassnode, more than $7 billion in Bitcoin losses was realized within three days (June 16-18), the most in crypto history. Huge losses even led some investors to resort to extreme methods. One of them is a Thai man named “Montri”, who was arrested by Bangkok police after having robbed a gold shop on Monday. This person stole gold necklaces weighing around 31.6 ounces that was worth more than $50,000.
According to law enforcement officials, the suspect confessed to perpetrating the robbery because of financial pressure created by his crypto investment losses. Montri is facing charges of armed robbery. This 34-year-old suspect stated that he parked his motorbike in front of a gold shop in Wang Burapha, then entered the store armed with a gun and fled with jewelry.
The global value of cryptocurrencies has dropped significantly in recent days, with Bitcoin, the largest cryptocurrency by market capitalization, hitting its lowest level since 2020. Many investors have suffered huge losses amid the current bear market. However, the market appears to be on the way to recovery, with almost $70 billion added to its market capitalization in the past 24 hours. At the time of writing, BTC is trading at $21,576 on CoinMarketCap.
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