Teenage Hacker Stole $243M In Bitcoin. How It Happened.

11 Aug Teenage Hacker Stole $243M In Bitcoin. How It Happened.

This week in cybersecurity from the editors at Cybercrime Magazine

Sausalito, Calif. – Aug. 11, 2025

– Listen to the Podcast

Last summer, about 4,100 Bitcoin worth $243 million vanished overnight from a single victim’s account. Three gamers, turned self-taught hackers, siphoned off the cryptocurrency after successfully gaining access using social engineering tactics. But this was just the start of a bizarre case, especially for the youngest thief, 19-year-old Veer Chetal.

Nicknamed “Wiz,” Chetal went from flaunting supercars to pleading guilty to a fresh round of scams while out on bail.

Cointelegraph reports that an anonymous crypto investigator explained that the gamers used a “highly sophisticated social engineering attack” to steal the whopping sum of money.

The victim was first targeted with a call pretending to be Google support via a spoofed number to compromise personal accounts. This was followed by a spoof Gemini support call claiming the account had been hacked, enough to convince the victim to reset their 2-factor authentication (2FA) and send the Gemini funds to a compromised wallet.

Luka Ivezic, a cybersecurity consultant at Information Security Forum (ISF), recently joined host Charlie Osborne on the Cybercrime Magazine Podcast to unpack this riveting story, which is still trending a year later.

This episode is sponsored by Cryptosec, a leading cybersecurity firm specializing in the protection of the decentralized future of finance, governance, and more.

Listen to the Podcast Episode

Cybercrime Magazine is Page ONE for Cybersecurity. Go to any of our sections to read the latest:

• SCAM. The latest schemes, frauds, and social engineering attacks being launched on consumers globally.

• NEWS. Breaking coverage on cyberattacks and data breaches, and the most recent privacy and security stories.

• HACK. Another organization gets hacked every day. We tell you who, what, where, when, and why.

• VC. Cybersecurity venture capital deal flow with the latest investment activity from various sources around the world.

• M&A. Cybersecurity mergers and acquisitions including big tech, pure cyber, product vendors and professional services.

• BLOG. What’s happening at Cybercrime Magazine. Plus the stories that don’t make headlines (but maybe they should).

• PRESS. Cybersecurity industry news and press releases in real time from the editors at Business Wire.

• PODCAST. New episodes daily on the Cybercrime Magazine Podcast feature victims, law enforcement, vendors, and cybersecurity experts.

• RADIO. Tune into WCYB Digital Radio at Cybercrime.Radio, the first and only round-the-clock internet radio station devoted to cybersecurity.

Contact us to send story tips, feedback and suggestions, and for sponsorship opportunities and custom media productions.