The post $263 Million Crypto Theft: Tangeman, 22, Pleads Guilty to Laundering Stolen Funds appeared on BitcoinEthereumNews.com.

TLDR Evan Tangeman, 22, pleaded guilty for laundering $3.5 million from a $263 million crypto theft. The criminal syndicate used social engineering tactics to steal 4,100 BTC, now valued at $371 million. Tangeman facilitated the laundering by converting stolen crypto into cash and leasing rental properties. The investigation has led to multiple guilty pleas, and three more suspects face charges in the case. Authorities continue to pursue remaining members of the syndicate, which used stolen funds for luxury purchases. Evan Tangeman, a 22-year-old California resident, pleaded guilty to laundering $3.5 million for a large-scale crypto crime ring. The scheme, which stole $263 million in crypto, involved a group that used social engineering tactics. Tangeman is the ninth defendant to admit guilt in the ongoing investigation, which the U.S. Department of Justice announced. Tangeman’s Role in the Scheme In court, Tangeman admitted to assisting a criminal syndicate in laundering stolen cryptocurrency. According to the Justice Department, he used a bulk-cash converter to exchange digital currency into cash. The money was then used to lease rental properties under false identities. His actions helped conceal the true owners of the properties involved. Tangeman’s participation in the operation spanned from October 2023 to May 2025. During this period, the syndicate stole around 4,100 BTC, which was worth $263 million at the time. The cryptocurrency is now valued at approximately $371 million. He faces sentencing on April 24, 2026, for his involvement in the laundering scheme. Criminal Network’s Methodology Revealed The social engineering syndicate operated from various locations across the United States and abroad. The group included hackers, organizers, callers, and burglars, all working together to execute the fraud. Hackers accessed online platforms and servers to steal cryptocurrency databases, which were then used to identify valuable targets. Victims were contacted by callers who convinced them…

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Filed under: News - @ December 9, 2025 8:16 am