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The U.S. Department of Justice sentenced a member of a $263 million crypto fraud case to 70 months in prison, involving social-engineering scams and money laundering of luxury spending.

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ME News message: On April 26 (UTC+8), the U.S. Department of Justice (DOJ) announced that a 22-year-old man from California, Evan Tangeman, was sentenced to 70 months (about 5 years and 10 months) in prison for his involvement in a criminal organization that stole approximately $263 million in cryptocurrency assets through social-engineering scams and residential burglaries. The sentence also includes an additional 3-year period of supervised release. According to the charging materials, Tangeman pleaded guilty in December 2025, admitting that he helped launder at least $3.5 million in illegal funds for the criminal network. The criminal group was accused of using the stolen proceeds for extravagant spending, including millions of dollars in nightclub bills, Lamborghini sports cars, and high-end assets such as Rolex watches. In a statement, U.S. Attorney for the District of Columbia Jeanine Pirro said the organization “built a criminal enterprise with near-absurd greed,” and emphasized that Tangeman not only participated in money laundering, but also destroyed evidence after his accomplices were arrested, demonstrating clear criminal intent. Against this backdrop of the ruling, data shows that in the first quarter of 2026, losses suffered by the crypto industry due to scams and hacker attacks have already reached $482 million, with social-engineering scams and offline violent robbery cases showing an upward trend. (Source: ODAYLI)
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