California man gets 70 months in $263M crypto scam

A California man was sentenced to 70 months in prison for laundering millions from a $263 million bitcoin theft, US prosecutors said.

Evan Tangeman, 22, admitted moving at least $3.5 million tied to a group that stole more than 4,100 BTC from a single victim between 2023 and 2025.

“This criminal enterprise was built on greed so brazen it borders on the cartoonish,”

Said Jeanine Ferris Pirro.

The group converted stolen bitcoin into cash and luxury assets, including mansions, high-end watches, and exotic cars, with Tangeman receiving a Lamborghini Urus as part of his role.

Members spent heavily on nightlife, with some outings costing up to $500,000 per evening, while properties linked to the scheme ranged between $4 million and $9 million in value.

Tangeman pleaded guilty to RICO conspiracy in December 2025 before Colleen Kollar-Kotelly, becoming the ninth defendant to admit involvement in the case.

The operation, which began through online gaming connections, involved hackers, callers, and burglars targeting crypto hardware wallets, as authorities continue pursuing additional suspects.

At the time of reporting, Bitcoin price was $77,511.14.