Crypto World News reports that, according to the Los Angeles Times, 22-year-old Evan Tangeman from Newport Beach, California, was sentenced by a federal judge to 70 months in prison and three years of supervised release for money laundering involving a young scam group called the "crypto kids." Prosecutors stated that the group used "social engineering" to impersonate staff from exchanges like Coinbase and Gemini to trick victims into revealing account information, stealing over $263 million in cryptocurrency assets. Tangeman admitted to assisting in laundering at least $3.5 million and helping rent luxury homes, among other activities.