California Money Launderer Sentenced to 70 Months in Prison for Role in $263 Million Cryptocurrency Theft

According to the U.S. Department of Justice, Evan Tangeman, a 22-year-old man from Newport Beach, California, was sentenced on April 24 to 70 months in federal prison followed by three years of supervised release by the U.S. District Court for the District of Columbia. Tangeman participated in an interstate social engineering crime ring that laundered at least $3.5 million. The criminal group operated since October 2023, stealing over $263 million in cryptocurrency through hacking and social engineering tactics. Its members were predominantly minors or unemployed youths under age 20, and the group originated on online gaming platforms. Tangeman was responsible for converting stolen cryptocurrency into fiat currency and leasing luxury mansions for group members in cities including Los Angeles and Miami; he personally received high-end vehicles—including a Bentley and a Lamborghini—as compensation. After the scheme unraveled, Tangeman instructed his co-conspirators to destroy digital devices to obstruct the investigation. The case was jointly investigated by the FBI’s Washington, Los Angeles, and Miami field offices, along with the IRS Criminal Investigation Division. To date, nine defendants have pleaded guilty.