21-6-2025 – Veer Chetal, a 19-year-old from Danbury, Connecticut, has admitted guilt in a staggering $245 million Bitcoin heist, pleading guilty to charges of fraud and money laundering conspiracy in a Washington federal court. The unsealed court documents, made public on Monday, reveal Chetal’s agreement to testify against his accomplices, shedding light on a sophisticated online scam that saw the theft of approximately 4,100 Bitcoins from a Washington, D.C. resident last August. The case, laced with intrigue, took a darker twist when Chetal’s parents were kidnapped, an act authorities believe was an attempt to extort the young suspect’s ill-gotten digital wealth.
The audacious crime, executed alongside two co-conspirators, allegedly fuelled a lavish spree, with the trio splurging millions on exotic cars, glittering jewellery, opulent rental properties, and extravagant nightclub revelry. Yet, the plot thickened when, just a week after the heist, Chetal’s parents were violently abducted from their new Lamborghini SUV. Assailants forced the couple into a van, binding and assaulting them before witnesses alerted authorities. A swift police response led to the arrest of four suspects who fled on foot, abandoning their vehicles, with two additional accomplices apprehended at a nearby Airbnb-rented property.
During the court proceedings, one co-defendant, Michael Rivas, expressed remorse, describing the scheme as a “foolish mistake” driven by a desire to aid a vengeful associate, though he offered no further details. His lawyer claimed Rivas joined the plot solely for a cut of the spoils. Meanwhile, federal investigators uncovered a broader web of alleged criminality, linking Chetal to some 50 additional thefts between November 2023 and September 2024, amassing over $3 million, alongside a separate $2 million cryptocurrency theft in October, about which he has remained tight-lipped.
A federal raid last September on Chetal’s Brunswick, New Jersey apartment and his parents’ Danbury home yielded a trove of evidence: over $500,000 in cash, luxury watches, high-end clothing, and jewellery. Chetal also surrendered digital assets valued at approximately $39 million to authorities.
