A Connecticut man, Veer Chetal, is cooperating with the feds after pleading guilty to his part in a massive Bitcoin heist. He’s one of three men accused of stealing $243 million worth of Bitcoin (4,100 BTC) from a victim in Washington, D.C. last August.
The Scam
Authorities say the trio used a sophisticated social engineering scheme. Malone Lam would send fake alerts to victims, warning them of unauthorized access to their crypto accounts. Then, Chetal and Jeandiel Serrano would call, posing as representatives from tech giants like Google and Yahoo to gain access to the victims’ accounts.
Lavish Spending and a Botched Kidnapping
After the theft, the trio allegedly splashed out millions on luxury cars, jewelry, fancy rentals, and wild nightclub parties. Ironically, a week later, Chetal’s parents were kidnapped in a botched ransom attempt. The kidnappers, who believed Chetal had access to the stolen Bitcoin, were quickly apprehended thanks to quick police work and an off-duty FBI agent who happened to be nearby.
A Wider Conspiracy
Court documents reveal Chetal is also implicated in around 50 similar heists, totaling $3 million in stolen funds between November 2023 and September 2024.
The Aftermath
Chetal faces up to 24 years in prison, hefty fines, and restitution to the victims. He’s agreed to testify against his co-defendants, Lam and Serrano.
