📰 Danbury, Connecticut — A 19-year-old man from Connecticut has pleaded guilty to his role in a massive $245 million Bitcoin theft, one of the largest known crypto heists in the U.S. to date.
Veer Chetal, a resident of Danbury, was admitted to federal charges of wire fraud and money laundering conspiracy, according to court documents unsealed this week in Washington, D.C. The charges stem from an August 2023 scam that resulted in the theft of approximately 4,100 Bitcoins from a Washington-based victim.
Authorities revealed that shortly after the theft, Chetal’s parents were kidnapped and assaulted in what investigators believe was a targeted retaliation or extortion attempt. The attackers reportedly forced the couple out of their Lamborghini SUV, assaulted them, and attempted to coerce their son into releasing funds.
Thanks to nearby witnesses and a swift police response, four suspects were arrested on the scene, while two others were apprehended at a nearby Airbnb rental. The attack ultimately failed, but it underscored the high stakes and danger surrounding illicit crypto schemes.
Lavish Spending and a Luxury Lifestyle
Following the heist, Chetal and his co-conspirators allegedly spent millions on luxury items, including cars, jewelry, mansions, and club parties, according to court filings. The suspect was residing in Brunswick, New Jersey, at the time of his arrest. During the raid, federal agents recovered:
Over $500,000 in cash
High-end jewelry and designer watches
Luxury clothing
And approximately $39 million in digital assets
Cooperation and Ongoing Investigations
Chetal entered a guilty plea in November 2024 and has agreed to cooperate with federal prosecutors. Authorities said he is expected to testify against his co-defendants, a decision that could reduce his sentence. However, Chetal’s legal troubles may be far from over.
Prosecutors are investigating his involvement in 50 other thefts totaling over $3 million between November 2023 and September 2024, including a separate $2 million crypto theft he allegedly failed to disclose.
Deportation Possible
Federal agents indicated that deportation may be on the table as part of the criminal proceedings. His immigration status was not disclosed in court documents.
Co-Defendants and Apologies
During court proceedings, one co-defendant, Michael Rivas, apologized, claiming he acted under pressure and in hopes of receiving a portion of the stolen funds. Legal representatives for the group are working to negotiate plea deals in light of the significant evidence gathered. #CryptoClause
