According to court documents, the victim, a Gemini creditor, was fooled into believing that their account had been compromised. The scammers, posing as Google and Gemini support, persuaded the victim to reset their 2-factor authentication and transfer their Gemini funds to a compromised wallet. In the course of this scam, the victim’s Bitcoin private key was also leaked through screen sharing via AnyDesk.

In a coordinated effort, Chetal accessed the victim’s Gmail and iCloud accounts, while another hacker, Malone Lam, searched for personal information. The third accomplice, Jeandiel Serrano, posed as a customer service representative. By the early hours of August 19, 2024, the hackers had successfully drained the victim’s wallet.

However, their triumph was short-lived. During the live stream, Chetal inadvertently leaked his name and was referred to as Veer by his accomplices. This, along with a series of other mistakes, led to their downfall and eventual arrest.

After the initial heist, the stolen Bitcoin was traced to more than 15 different exchanges, where it was swapped multiple times between Litecoin (LTC), Ether (ETH), Monero (XMR), and Bitcoin. Chetal’s lavish spending on luxury goods also helped trace the stolen wealth back to him.

In an unexpected twist, Chetal agreed to cooperate with authorities and testify against his co-conspirators. However, while out on bail, he was implicated in another social engineering scam involving a $2 million theft. This led to his re-arrest and the denial of his request for re-release on bond.

The Veer Chetal case serves as a stark reminder of the potential risks associated with cryptocurrency and highlights the need for vigilant cyber security practices.

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