TechFlow News: On April 25, 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. Most members were minors or unemployed individuals 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 investigation began, Tangeman instructed his co-conspirators to destroy digital devices to obstruct evidence collection. The case was jointly investigated by the FBI’s Washington, Los Angeles, and Miami field offices and the IRS Criminal Investigation Division. To date, nine defendants have pleaded guilty.
