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The Anatomy of a Massive Crypto Hack: 19-Year-Old Hacker Involved in Multi-Million Dollar Crypto Theft
Scammers employ social engineering assaults as a powerful tool to breach cryptocurrency wallets and embezzle victims’ money. This was the strategy employed in this case to target the Gemini creditor, according to court filings. About 4,100 BTC, or $243 million, disappeared overnight from one victim’s account in August 2024. After successfully getting access through social engineering techniques, three gamers who later became self-taught hackers siphoned off the Bitcoin. However, this was only the beginning of an odd case, particularly for Veer Chetal, the youngest thief, who was 19 years old.
“Wiz” Pleads Guilty in $243M Bitcoin Heist
Chetal, also known as “Wiz,” went from showing off his supercars to entering a guilty plea to a new round of scams while he was free on bail. An early summary of the scheme was made public by the Department of Justice in encrypted court documents that were previously sealed. ZachXBT, a crypto expert who assisted in exposing the hackers, then gave a thorough synopsis. The anonymous crypto investigator revealed in a post on X that Veer Chetal, Malone Lam, and Jeandiel Serrano stole $243 million from a single individual using a highly advanced social engineering technique.
Fake Support Calls and 2FA Reset Fuel $243M Bitcoin Heist
In order to compromise personal accounts, the victim was initially targeted with a call posing as Google support from a spoofed number. A fake Gemini support call saying the account had been hacked, then followed. This was sufficient to persuade the victim to transfer the Gemini cash to a hacked wallet and reset their two-factor authentication (2FA). At the same time, the victim was tricked into sharing their screen and revealing their Bitcoin private key using AnyDesk.
To execute the swindle, Chetal, Lam, and Serrano collaborated. While Lam looked through emails and folders for personal data, Chetal gained access to the victim’s iCloud and Gmail accounts. Serrano was then assigned to make calls as the customer support agent. The trio was able to access and empty the wallet by the early hours of August 19.
Bitcoin Thieves Caught on Tape
ZachXBT is a blockchain investigator and former fraud survivor. Some of the more complex Bitcoin money laundering cases have involved him. But in this instance, the suspects recorded the entire incident, which made their lives easy. A secret recording of the burglars’ live response after receiving 4,064 Bitcoin was shared by ZackXBT on X. In addition to watching blockchain transactions, this would turn out to be a crucial clue for the ZachXBT crypto probe. Prior to the Bitcoin being delivered to over 15 different exchanges, preliminary evidence indicated that the funds were divided among each party.
The Bitcoin Heist That Fell Apart: Mistakes That Cost Hackers Millions
Chetal unintentionally revealed his name during the livestream. This was further supported by the fact that on multiple tapes and conversations, his associates called him Veer. ZachXBT linked him to the money since it was the first thoughtless mistake he would make during his crime spree.
Both of the fraudsters were equally careless with their identity protection. Malone Lam was seen showing off the pilfered money on Discord, and several individuals called him “Malone” in the video clips. Lam was found with his girlfriend uploading images of his whereabouts every night on Instagram, and around $3.5 million was linked to him. Following the investigation, all three were taken into custody. Official details of the indictment case against Lam and Serrano were made public on September 19, 2024, when it was unsealed.
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