Teen Bitcoin Scammer Faces Decades in Prison After $245M Heist
The U.S. government doesn’t want a 19-year-old released before sentencing—not after he admitted to stealing $245 million in Bitcoin. Prosecutors argue his accomplices might help him skip the country to avoid testifying against them.
Court papers unsealed recently show Veer Chatel pleaded guilty in Washington, D.C. last November. The charges? Conspiracy to commit wire fraud and money laundering tied to a massive crypto scam earlier this year. If the judge goes by the plea deal, he’s looking at 19 to 24 years behind bars, plus fines up to half a million dollars. Oh, and anything he bought with the stolen cash? Gone.
How the Scam Worked
It wasn’t some high-tech hack. According to on-chain investigator ZachXBT, Chatel and his crew tricked victims into handing over their private keys through a screensharing service. Once they had access, they drained crypto wallets linked to the Gemini exchange. One person lost nearly the entire $245 million haul.
There’s even a leaked video—apparently filmed by the thieves themselves—showing their reaction when the Bitcoin hit their wallet. Not exactly discreet.
Things got messier from there. A week after the theft, Chatel’s parents were attacked and kidnapped in what looks like a botched ransom attempt. No word on whether that was tied to the scam, but the timing’s hard to ignore.
Luxury Cars and Laundering
Chatel’s job, per the court docs, was posing as tech support to gain victims’ trust. Once they clicked his link, his partners took over. The money didn’t sit around—prosecutors say he funneled it through professional launderers, then splurged on Rolexes, designer clothes, and a fleet of cars.
When the FBI raided his place, they found $37 million in crypto tied to the heist. And that might’ve just been the start. The files mention around 50 other victims, with Chatel personally pocketing $3 million.
Prosecutors: “He’ll Flee”
The government shot down Chatel’s request for release before sentencing, and it’s not hard to see why. With decades in prison looming, they claim he’d have “every reason to run”—especially if his unnamed co-conspirators foot the bill.
Still, they gave him some credit for admitting guilt. Small comfort, maybe, when you’re staring down a 20-year sentence.
So far, at least a dozen people have been charged, including two alleged partners—Malone Lam and Jeandiel Serrano—who were arrested last year. But the feds seem to think there are more out there.
No trial date’s been set yet. For now, Chatel stays locked up. And given the scale of this thing, don’t expect the headlines to end anytime soon.
