U.S. Court Sentences California Man to 70 Months Over $263 Million Crypto Scam Operation

The U.S. Department of Justice sentenced Evan Tangeman, 22, to 70 months in prison for his role in a criminal group responsible for stealing approximately $263 million in cryptocurrency through social engineering and burglary schemes.

Tangeman pleaded guilty in December 2025 and admitted to helping launder at least $3.5 million in stolen funds. In addition to the prison term, he received three years of supervised release. Authorities said the group spent large sums of stolen funds on luxury goods, expensive real estate, high-end vehicles, and lavish nightlife expenses.

According to Jeanine Pirro, Tangeman also attempted to destroy evidence after several co-conspirators were arrested, which prosecutors described as clear evidence of guilt.

Rising Crypto Crime and Physical Attacks Raise Global Concerns

The sentencing comes as crypto related losses reached about $482 million in the first quarter of 2026, reflecting a surge in organized online scams and physical threats.

Pavel Durov reported that France recorded 41 kidnappings targeting cryptocurrency holders in early 2026. Officials, including Jean-Didier Berger, have announced new preventative measures to address the growing number of violent attacks linked to digital asset ownership.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.