"Gambling's cocaine!" UK man addicted to trading coins, loses $2 million, faces criminal prosecution, forced into rehab.

Have you ever thought about whether you are trading cryptocurrencies to make money or for the thrill of profit? Most people see trading cryptocurrencies as an investment or a quick way to get rich, but there are also a few who become addicted to trading, eventually having to seek treatment in the hospital.

Cryptocurrency Addiction

According to a report by the BBC, a British man named Jake shared his cryptocurrency addiction story, detailing how he lost millions of pounds due to addiction, eventually leading to a lawsuit and receiving rehabilitation treatment in a hospital.

Jake told the BBC that he first invested in cryptocurrency in 2015, but his addiction issues started after several successful experiences in recent years.He realized he had a problem when he lost the fear of losing money, willing to risk the last bit of money even as his assets continued to shrink.

"When I made back everything I lost in a particular trade. It was an absolute thrill."

However, when this thrill combined with his marital issues and personal life challenges, things spiraled out of control, with Jake using cryptocurrency trading to escape his problems. Jake mentioned that he was in charge of handling millions of pounds for clients at the time. Soon, he turned his attention to funds that did not belong to him, hoping to replicate his past successful experiences.

"The first time I took (clients') money, I lost it all within about 20 minutes that evening. The market moves very fast, and everything I had was liquidated."

In the end, Jake faced criminal charges for misappropriation of funds, but with the help of his family, he repaid £1.5 million to his employer and is now undergoing rehabilitation treatment in a hospital in the UK.

The Cocaine of Gambling

Experts say that the problems exhibited by cryptocurrency addicts are similar to those of gambling addicts, indicating a behavioral addiction symptom. While there are no exact numbers on the number of cryptocurrency trading addicts, Tony Marini, the lead therapist at the Castle Craig Hospital, a specialist clinic for drug and alcohol addiction recovery, stated that they have seen an increasing number of cases in Scotland. In the past few years, Castle Craig Hospital has treated over 100 cryptocurrency addicts. Tony Marini said:

"This is the cocaine of gambling because it moves so fast, and it's 24/7, everywhere - on your phone, on your computer, in your bedroom."