• Thu. Apr 18th, 2024

From Crypto Trader to A Criminal

Jun 6, 2021

A citizen of the United Kingdom shared his journey of firstly becoming a crypto trader and then to a criminal and at the end how he ended up on a hospital bed for treatment of his crypto addiction. Says that his crypto journey was like a “gamble” which he played for the first time, it brought fortune but in the last time brought hardship upon him.

BBC documented a story of an unfortunate UK citizen who was once a crypto trader and then became a criminal. In the documentary, the person was named Jake and the story was shared with the general public on 30th May 2021. The crypto trader-cum-criminal is currently hospitalized where he is undergoing treatment of battling against and overcoming his addiction to crypto gambling.

According to the documentary, Jake told BBC that he was once a successful crypto trader. He had made fortunes in most of his crypto trading. For instance, he was one of those lucky traders who acquired the lead coins, Bitcoin, in the year 2015. After a few times success, his trading activities started to bear losses and a time came when he lost millions of pounds.

Jake told that he still remembers the time when he had put all his money online in a crypto gamble. He thought that by doing so he would be able to hit the jackpot. However, the luck was not in his favor and he ended up losing every penny he had with him, told Jack. But even then he did not learn his lesson and continued to place bets on crypto trading after borrowing funds from family and friends. Through this he continued to make up for his living, however, he did not realize that he was becoming an addict to crypto gambling.

He also told that he was an employer of a company where he was in charge of a lot of cash. The cash was into millions of pounds and was coming in and out on daily basis. His addiction compelled him to take out some money from the company and using it for crypto trading. He continued investing the employer’s cash on the pretext that he will make the shortfall good from the profit earning. At one night, he risked all the money but it took only 20 minutes for him to lose all.

He told that the employer then firstly terminated him and then filed a case of misappropriation of funds in the Court. The Court also found him guilty of the charges alleged against him and he then became a criminal. Although he had paid most of the amount due to his employer, however, he is still short of a couple of thousands of pounds.

But he is regretting his addiction of crypto gambling and is currently undergoing treatment for getting rid of his addiction. Jake’s story has a lesson that everyone needs to learn.

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