A 22-year-old American man pleaded guilty to involvement in a $263 million money laundering case involving a cryptocurrency scam ring.

Odaily Planet Daily reports that the U.S. Department of Justice announced that Evan Tangeman, a 22-year-old man from California, has pleaded guilty to participating in a $263 million crypto social engineering fraud ring. The group stole approximately 4,100 BTC through social engineering fraud between October 2023 and May 2025.

Tangeman pleaded guilty to conspiracy with RICO and laundering over $3.5 million for the group, becoming the ninth defendant to plead guilty in the case. The Department of Justice stated that the group consisted of hackers, organizers, target identifyrs, spoofing customer service callers, and burglars located in California, Connecticut, New York, Florida, and overseas. They used stolen databases to target victims and tricked them into transferring assets via cold calling. The stolen crypto assets were used to purchase luxury goods, luxury cars, nightclub services, rent properties, and pay for private flights.

Tangeman assisted gang members in converting stolen crypto assets into cash through a cash exchange service and used aliases to rent properties to conceal his true identity. His sentencing hearing is scheduled for April 24, 2026. The court has therefore unfroze a second alternative indictment, adding three new defendants. (The Block)