Technology

How a teen stole $243M in Bitcoin and revealed his identity on livestream

Posted on by Minakshi

Teen Hacker Pulls Off ₹2,000 Crore Bitcoin Heist, Reveals Identity on Livestream

A shocking incident has come to light involving a 19-year-old who managed to steal a massive amount of Bitcoin, valued at approximately ₹2,000 Crore ($243 million USD), only to inadvertently reveal his identity during a live stream. The case has sparked intense debate about cybersecurity and the risks associated with digital assets.

The ₹2,000 Crore Bitcoin Theft

In August 2024, approximately 4,100 BTC disappeared overnight from a single victim’s account. Investigations revealed that a group of three individuals, reportedly self-taught hackers, were responsible for siphoning off the Bitcoin.

Social Engineering: The Weapon of Choice

The hackers allegedly used social engineering tactics to gain unauthorized access to the victim’s account. Social engineering involves manipulating individuals into divulging confidential information or performing actions that compromise security. This emphasizes the importance of remaining vigilant and cautious about sharing personal information online.

Identity Revealed: A Livestream Blunder

The case took an unexpected turn when the youngest of the alleged perpetrators, identified as Veer Chetal, age 19, inadvertently exposed his identity while live streaming. This blunder added another layer of intrigue to an already complex case and potentially jeopardized the entire operation.

Reoffending While on Bail

Adding to the gravity of the situation, it has been reported that Veer Chetal allegedly re-offended while out on bail, further complicating the legal proceedings and raising serious concerns about his behavior.

Implications and Future Considerations

  • The incident highlights the growing threat of cybercrime and the potential for significant financial losses.
  • It underscores the importance of robust cybersecurity measures, including strong passwords, multi-factor authentication, and increased awareness of social engineering tactics.
  • The case serves as a stark reminder of the legal consequences of engaging in illegal online activities.
Summary:

  • A 19-year-old hacker stole approximately ₹2,000 Crore in Bitcoin.
  • Social engineering was reportedly used to gain access to the victim’s account.
  • The hacker revealed his identity during a livestream and reoffended while on bail.
Key Takeaways:

  • Social engineering attacks are a significant threat to digital asset security.
  • Strong cybersecurity practices are crucial for protecting your online accounts and cryptocurrency holdings.
  • Even seemingly minor online actions can have severe consequences.
  • The case highlights the need for increased vigilance and awareness regarding online security, especially among young people.
  • The justice system needs to be prepared to handle complex cybercrime cases effectively.