📰 【Key Members Involved in Singaporean-led Crypto Theft and Money Laundering Case Sentenced to 70 Months】

BlockBeats reports that on April 25th, the U.S. Department of Justice announced that Evan Tangeman, a core member involved in a cryptocurrency theft and money laundering network, has been sentenced to 70 months in federal prison, with the case involving over $263 million. Prosecutors allege that the crime network was led by Singaporean suspect Malone Lam (not yet convicted), who used complex social engineering techniques to carry out multi-state and cross-border attacks, stealing large amounts of crypto assets. As a key figure in money laundering, Tangeman admitted to assisting in laundering at least $3.5 million in illegal funds, converting crypto assets into cash, and leasing multiple luxury properties in Los Angeles and Miami for the gang, some of which are valued...

70 months, $263 million. Only caught a small-time money laundering accomplice, the big fish Malone Lam is still at large.

Typical of the domestic success abroad, the U.S. Department of Justice put in so much effort but only sentenced a runner? The real mastermind is still counting money on the beaches of Singapore. Remember, on-chain data doesn’t lie, but people are always the biggest vulnerability. This case shows that no matter how fancy the money laundering methods, they all ultimately end up in fiat currency and real estate.

👇👇👇👇👇