The U.S. government is opposing the release of 19-year-old Veer Chatel, who pleaded guilty to a $245 million Bitcoin heist. Authorities fear he may flee before sentencing, potentially aided by co-conspirators. Chatel admitted to conspiracy to commit wire fraud and money laundering in a Washington, D.C. court, facing a prison term of 19.5 to 24.5 years and fines up to $500,000. The heist involved tricking victims into revealing their private keys through a screensharing service, leading to significant losses. Following the theft, Chatel's parents were kidnapped in a ransom attempt. He allegedly posed as tech support to deceive victims and laundered the stolen funds with professional launderers. Investigators found $37 million in stolen cryptocurrency at his home, and he reportedly defrauded around 50 other victims, earning $3 million. The government argues that Chatel has strong incentives to flee, especially with a substantial prison sentence looming. Last month, 12 others were charged in connection with the heist. Read more AI-generated news on: https://app.chaingpt.org/news

#BTC