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Teen Pleads Guilty to $245 Million Bitcoin Theft, Re-Arrested After New Crimes
- A teenager pleaded guilty to a $245 million Bitcoin theft but was re-arrested for committing an additional $2 million theft while out on bond.
- The teenager, Chetal, cooperated with authorities but was re-arrested for engaging in further illicit activities and discussing fleeing to India or Dubai, violating court orders.
- Chetal was charged in November 2024 alongside co-defendants whom he met on a Minecraft server.
- He forfeited luxury items and over $36 million in Ethereum, agreeing to cooperate against his associates, potentially facing a 19 to 24-year prison sentence.
- Despite being released on bond, Chetal orchestrated a $2 million social engineering theft, tracing back funds to online gambling and a non-KYC exchange.
- U.S. District Judge Colleen Kollar-Kotelly denied Chetal's request for re-release, citing his casual attitude towards crime and the significant flight risk he poses.
- A dramatic twist occurred when Chetal's parents were targeted in a kidnapping attempt by six masked men, allegedly orchestrated by James Schwab, who had an altercation with Chetal previously.
- Five of the six kidnappers have pleaded guilty, while Schwab pleaded not guilty.
- Chetal's legal proceedings details were unsealed last week by a federal district judge.
- Investigators discovered that Chetal tricked a New Jersey resident into revealing her crypto wallet seed phrase for the $2 million theft.
- Chetal's IP address briefly leaked to his mother's address during a VPN failure, connecting him to the illicit activities.
- The case involved high-stakes theft, cooperation with authorities, re-arrest, and a foiled kidnapping attempt.
- Chetal's non-U.S. citizenship and attempts to plan travel abroad heightened concerns about him fleeing.
- Prosecutors deemed Chetal a significant flight risk due to his documented attempts and lack of U.S. citizenship.
- The post discusses the theft, subsequent crimes, legal proceedings, and the kidnapping attempt involving Chetal's parents and other suspects.
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