Dropping money as a soft-core character in Terraria on PvP death

I made a PvP map for Terraria. The rules for the match use money for scoring, so I was hoping that players could have softcore characters and drop half their money whenever they die. Unfortunately, it turns out that whenever players die from PvP, they don’t drop any money, making the rules not work.

Is there a mod or some kind of setting anywhere that changes this? If not, how can I make a mod to do this? I’m a competent programmer, so I’m willing to get my hands dirty. I know I could look up a tutorial pretty easily, but I suspect most of them deal with how to make new types of enemies and items. Is there a good tutorial on changing the rules for multiplayer matches?