It started with a phone call and ended with one of the biggest crypto heists ever pulled off by a teenager. In August 2024, a 19-year-old named Veer Chetal, along with two other young hackers, stole over 4,100 Bitcoin worth around $243 million from a single victim using nothing but social engineering tactics and a bit of nerve.
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The group tricked the victim with fake tech support calls, pretending to be Google and Gemini. They convinced the victim to reset security settings and unknowingly share access to their crypto wallet. Once inside, the hackers used a remote desktop app to gain control, spotted the private key on the screen, and drained the funds before sunrise.
But for all the effort they put into the scam, their downfall came just as fast and just as carelessly.
Teen Turns Flashy Thief, Then Fumbles
Chetal, who went by “Wiz” online, wasn’t exactly subtle about his new wealth. Court documents revealed he bought luxury watches, supercars, and splurged on high-end goods. One of his accomplices, Malone Lam, reportedly blew $500,000 partying in Los Angeles and Miami and bought 10 cars before authorities caught up with him. The third, Jeandiel Serrano, used the same profile photo across every social media platform, leaving a trail that made investigators’ jobs easy.
The biggest break came from a private livestream the hackers recorded, showing their reaction as they watched the stolen Bitcoin arrive. In it, Chetal’s name is accidentally revealed both on screen and by his friends calling him “Veer.” That slip, combined with blockchain analysis and social media posts, led crypto investigator ZachXBT straight to them.
Out on Bond and Back at It
Chetal eventually pleaded guilty and agreed to cooperate with investigators. He gave up $36 million in Ethereum and dozens of luxury items. Prosecutors expected him to face between 19 and 24 years in prison. But in October 2024, he was released on bond and almost immediately launched a second scam.
This time, he tricked a woman in New Jersey out of $2 million, again using fake support calls. He convinced her to reveal her wallet’s seed phrase, drained the funds, and then funneled $200,000 into an online gambling account. Investigators traced the money back to his home after a VPN failure exposed his real IP address.
When asked about it, his lawyer admitted Chetal accepted the funds and understood they were likely illegal. Worse still, the teen lost the entire $200,000 in one bet just nine minutes after logging in.
Why Parents Need to Wake Up
Chetal’s story isn’t just about hacking. It is a warning about how fast digital crime is evolving and how young people are getting pulled into it.
This wasn’t a kid poking around in code. This was a deliberate, coordinated, multi-million-dollar crime that escalated to real-world danger. Just one week after the Bitcoin theft, masked intruders attempted to kidnap Chetal’s parents in what appeared to be retaliation or extortion linked to the stolen funds.
As crypto becomes more mainstream and accessible, teens are gaining the tools to commit high-stakes financial crimes from their bedrooms. Parents need to pay attention. Understanding how crypto works, what apps their kids are using, and how scams play out online is no longer optional.
Digital freedom comes with digital responsibility. In the world of crypto, a few careless clicks can cost millions and, in some cases, even put lives at risk.
Investors interested in crypto should stay informed by tracking the prices of their favorite cryptocurrencies and using technical analysis tools on the TipRanks Cryptocurrency Center. Click on the image below to find out more.
