19-Year-Old Pleads Guilty to $245 Million Bitcoin Theft and Money Laundering

Veer Chetal, a 19-year-old from Danbury, Connecticut, has pled guilty to charges related to a staggering $245 million Bitcoin theft and conspiracy to launder money. Along with co-conspirators Malone Lam and Jeandiel Serrano, Chetal allegedly orchestrated a social engineering scam in August that resulted in the theft of 4,100 Bitcoins from a victim in Washington, D.C. This incident is part of a much broader racketeering conspiracy involving approximately $260 million in crypto thefts.

Following this, Chetal has been involved in roughly 50 additional thefts, netting about $3 million between November 2023 and September 2024. The case took a dramatic turn when Chetal's parents were briefly kidnapped in a failed ransom attempt. During a federal raid in September, agents seized $39 million in cryptocurrency, $500,000 in cash, and luxury goods from Chetal's residences.

Facing 19 to 24 years in prison along with fines and restitution, Chetal's cooperation with federal authorities has been complicated after failing to disclose another $2 million Bitcoin theft. His involvement has also had significant collateral damage, including the loss of his father's job at Morgan Stanley.

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