A Korean funeral company just got wrecked by their ETH bet, and it's a brutal lesson in risk management. Bumo Sarang, a prepaid funeral service provider in South Korea, took client deposits and decided to gamble them on a leveraged ETH play. They poured about 59.5 billion won into the T-REX 2X Long BMNR Daily Target ETF. Here s where it gets spicy. BMNR is a stock with extremely high beta to ETH because the company itself runs an ETH treasury model. So this funeral home was effectively double-leveraged into Ethereum through a complex derivative. After ETH s sharp decline, their book value collapsed to just 10.2 billion won. That s a massive unrealized loss of 49.3 billion won, roughly $33 million. The real question now is who s going to pay for the funerals of their clients? This is a textbook case of why you don t gamble with customer funds, especially not on leveraged crypto plays. A stark reminder that in this market, even the most unexpected players can get caught holding the bag. Stay safe out there.