A California man acquired a 70-month federal jail sentence Friday for laundering hundreds of thousands of {dollars} from a $263 million crypto theft, the US Lawyer’s Workplace for the District of Columbia introduced.
Evan Tangeman, 22, of Newport Seashore, admitted transferring a minimum of $3.5 million for a multi-state crew that drained greater than 4,100 Bitcoin (BTC) from a single sufferer and funded an extravagant spending spree.
Contained in the $263 Million Crypto Laundering Operation
The enterprise ran from October 2023 via Might 2025, rising out of friendships shaped on on-line gaming platforms. It included database hackers, organizers, callers, and residential burglars who focused {hardware} wallets, based on courtroom filings tied to the heist.
Tangeman, who used the aliases “E,” “Tate,” and “Evan|Exchanger,” transformed stolen Bitcoin into fiat money. He labored with Los Angeles actual property brokers to obtain mansions for co-conspirators.
Many have been unemployed males beneath age 20 with no respectable earnings. Some properties carried valuations between $4 million and almost $9 million.
Lamborghinis, Rolexes, and Half-Million Greenback Bar Tabs
Members of the group spent stolen crypto on nightclub providers, as much as $500,000 per night; Rolex watches valued between $100,000 and $500,000; and a fleet of unique automobiles priced between $100,000 and $3.8 million.
Tangeman acquired a widebody Lamborghini Urus as compensation. Federal brokers looking his residence additionally seized a 2022 Rolls-Royce Ghost and a Porsche GT3 RS. The case echoes a wave of current federal prosecutions focusing on cryptocurrency cash laundering networks.
“This felony enterprise was constructed on greed so brazen it borders on the cartoonish. They stole hundreds of thousands, spent it on half-million-dollar nightclub tabs, Lamborghinis, and Rolexes,” U.S. Lawyer Jeanine Ferris Pirro mentioned in an announcement.
Ninth Plea in an Ongoing RICO Case
Tangeman pleaded responsible to RICO conspiracy on Dec. 8, 2025, earlier than U.S. District Decide Colleen Kollar-Kotelly. His admission marked the ninth plea within the investigation.
After co-defendants Malone Lam and Jeandiel Serrano have been arrested in September 2024, Tangeman directed Tucker Desmond to destroy the group’s digital units.
Federal prosecutors proceed to pursue extra defendants tied to the social engineering scheme. Extra sentencings anticipated within the months forward.
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