California Man Pleads Guilty in $263 Million Crypto Fraud Case

According to ChainCatcher, the U.S. Department of Justice announced that Evan Tangeman, a 22-year-old from California, has pleaded guilty to laundering over $3.5 million for a crypto fraud group involved in a $263 million scheme. Tangeman is the ninth defendant to plead guilty in this investigation. The fraudulent activities took place between October 2023 and May 2025, during which the group stole approximately 4,100 bitcoins, valued at $263 million at the time. The current value of these bitcoins is estimated at $371 million. The group comprised hackers, organizers, target identifiers, phone scammers, and burglars specializing in stealing hardware wallets. They used stolen databases to select their targets, with hackers infiltrating websites and servers to obtain cryptocurrency-related data. Target identifiers then used this information to pinpoint the most valuable victims.