22-year-old pleads guilty to money laundering for $263 million crypto syndicate

Evan Tangeman, a 22-year-old California resident, pleaded guilty before Judge Colleen Kollar-Kotelly to conspiracy to commit RICO for laundering over $3.5 million for a massive social engineering scheme. This syndicate operated between October 2023 and May 2025, growing from online gaming friends across several US states and abroad, ultimately stealing approximately 4,100 BTC, valued at $263 million at the time of the theft. The group, which included hackers, organizers, and callers, targeted victims using stolen databases and social engineering tactics to gain access to hardware wallets. The stolen cryptocurrency was used to purchase luxury items, including cars, private jet rentals, and real estate, which Tangeman helped facilitate by converting crypto to cash and concealing property ownership using fake leases. Tangeman is the ninth defendant to plead guilty, and his sentencing is set for April 24, 2026. Following his plea, the court unsealed a superseding indictment charging three more recently arrested defendants.

(Source：The Block)