22-Year-Old California Money Launderer Sentenced to 70 Months Over $263M Cryptocurrency Heist

TLDR: Evan Tangeman, 22, of Newport Beach, CA, was sentenced to 70 months for laundering at least $3.5M in stolen crypto funds. The criminal enterprise stole over $263M in cryptocurrency through social engineering tactics starting in October 2023. Tangeman directed destruction of digital evidence after co-conspirators were arrested, worsening his federal sentencing outcome. Stolen funds paid for $500K nightclub tabs, Lamborghinis, and mansions rented at up to $80,000 per month across the U.S. A California man received a 70-month federal prison sentence on April 24, 2026, in Washington, D.C. Evan Tangeman, 22, of Newport Beach, was convicted for laundering millions tied to a massive cryptocurrency theft. The criminal enterprise stole more than $263 million through social engineering tactics. Tangeman admitted to laundering at least $3.5 million for the group. Judge Colleen Kollar-Kotelly also ordered three years of supervised release following his prison term. Newport Beach Resident Played Central Role in Multi-State Crypto Fraud Ring Tangeman operated under aliases including “E,” “Tate,” and “Evan|Exchanger” within the criminal network. The enterprise formed no later than October 2023 and continued through at least May 2025. Members were recruited through friendships built on online gaming platforms across California, Connecticut, New York, Florida, and abroad. The group functioned as a structured criminal operation with clearly defined roles. It included database hackers, organizers, target identifiers, callers, and residential burglars. Those burglars specifically targeted hardware virtual currency wallets belonging to victims. Tangeman’s primary responsibility was converting stolen cryptocurrency into usable cash. U.S. Attorney Jeanine Ferris Pirro did not hold back in describing the enterprise’s conduct during sentencing. “This criminal enterprise was built on greed so brazen it borders on the cartoonish,” Pirro said. She added that members “stole millions, s...