Bitcoin Hacking Mastermind Admitting Guilt, Cooperates with Federal Authorities Over $243 Million Cryptocurrency Heist, According to Reports
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👮♂️ Connecticut Man Convicted in Multi-Million Dollar Bitcoin Scam 💵💰🔐
In a shocking case of digital theft, Veer Chetal, a Connecticut resident, has admitted to his involvement in a massive Bitcoin scam that swindled a victim in Washington, D.C. out of an astounding $243 million worth of Bitcoin.
Chetal, along with accomplices Malone Lam and Jeandiel Serrano, pleaded guilty to fraud and money laundering conspiracy charges. The trio discovered a cunning method for tricking cryptocurrency holders into divulging login credentials by posing as representatives from tech giants like Google and Yahoo.
Authorities claim the three men lived a lavish lifestyle, indulging in expensive cars, jewelry, rental mansions, and nightclub parties, financed by their ill-gotten gains. However, their grand spending spree came to an abrupt halt when Chetal's parents were kidnapped in a botched ransom scheme by believing they held large amounts of cryptocurrency. The kidnappers were quickly apprehended by police, and an off-duty FBI agent happened to be passing by at the time of the kidnapping.
Among unsealed court documents, Chetal is also being accused of being part of 50 similar scams that stole $3 million from victims between November 2023 and September 2024. With this conviction, Chetal faces up to 24 years in prison, a hefty fine, and restitution to the victim.
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🧐 Something Fishy with Coinbase? 🐠💪💰
In an unexpected turn of events, Coinbase, one of the largest cryptocurrency exchange platforms, was the target of a significant data breach this May. Bribed overseas customer support contractors initiated the breach by leaking sensitive user information, such as names, contact details, Social Security numbers, banking data, and ID images. Though no funds or cryptographic keys were compromised, approximately 69,000 users were affected by the breach. Coinbase opted against paying the $20 million extortion demand and instead offered a $20 million bounty for the offenders' arrest. The breach is under investigation, and authorities warn of the growing importance of third-party contractor security in the crypto sector.
👉 Stay Aware! 🔔- Stay informed on the latest trends in cryptocurrency and blockchain news- Be vigilant of evolving security risks and scams in the crypto industry
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- Veer Chetal, along with accomplices, was convicted for his involvement in a multi-million dollar Bitcoin scam, revealing the potential involvement of cryptocurrency in crime-and-justice.
- The conviction comes after unsealed court documents reveal Chetal's association with around 50 similar scams, highlighting the need for increased general-news awareness and vigilance in the face of altcoins-related scams.
- Furthermore, a significant data breach affecting around 69,000 users was recently disclosed at Coinbase, one of the largest cryptocurrency exchange platforms, emphasizing the importance of addressing finance and blockchain security issues.
