Cryptohomie Who Spent Almost $150,000 on Altcoins Sees 85% Loss

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A crypto enthusiast who took out a six-figure loan to purchase cryptocurrencies has seen them lose almost 85% of their value.

Investment Lost with NEO, Stellar, Litecoin, Ethereum, and Others

On Monday, Reddit user “Cryptohomie,” a 32-year-old living in Abu Dhabi, UAE, posted a photo of his bank repayment schedule to the cryptocurrency subreddit, according to News.com.au.

The photo shows a document from Emirates Islamic Bank that lists monthly repayments of 8,194 dirham ($3,067) until December 14, 2021. The original loan is listed as 338,000 dirham ($126,500) with a total outstanding amount of 393,296 dirham ($147,200) including interest.

“Here is my bank installment related to the loan I took to invest in crypto,” Cryptohomie wrote. “Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”

Of note is that the money was not used to