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The U.S. Department of Justice sentenced a member involved in a $263 million crypto fraud case to 70 months in prison for social engineering fraud and money laundering connected to 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, has been sentenced to 70 months (about 5 years and 10 months) in prison, with an additional 3-year period of supervised release, for his involvement in a criminal organization that stole approximately $263 million in cryptocurrency assets through social-engineering scams and residential burglaries. According to the charging documents, Tangeman pleaded guilty in December 2025, admitting that he helped launder at least $3.5 million in illegal funds for the criminal network. The alleged gang is said to have used the proceeds for lavish spending, including millions of dollars in nightclub bills, Lamborghini sports cars, and high-end assets such as Rolex watches. In a statement, U.S. District Attorney for the District of Columbia Jeanine Pirro said the organization “built a criminal scheme with near-absurd greed,” adding that Tangeman not only participated in money laundering, but also destroyed evidence after his accomplices were arrested, demonstrating clear criminal intent. This sentencing comes as data shows that in the first quarter of 2026, losses across the crypto industry from fraud and hacking attacks have already reached $482 million, with social-engineering scams and offline violent robbery cases trending upward. (Source: ODAILY)
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