In 2006, Asrian competed on third board for the gold medal-winning Armenian team at the Chess Olympiad in Turin.

On 9 June 2008 the Chess Federation of Armenia reported that Asrian had died of a suspected heart attack while driving, which was confirmed the following day.

[9] Asrian, feeling ill, pulled his car into a courtyard in the Armenian capital of Yerevan on an early Monday and then lost consciousness.

A moment of silence was held in his memory before the opening of a speed-chess tournament in Yerevan on Monday, after his death was announced by Armenian chess player Smbat Lputian.

Before the arbiters started the clocks in the first round on Thursday 12 June, there was a minute's silence in honour of Grandmaster Karen Asrian's memory.