"The scheme involved database hackers, organizers, target identifiers, callers, and residential burglars who targeted hardware wallets containing cryptocurrency. Hackers used stolen databases to identify high-value targets. Callers impersonated crypto exchange staff or email providers to trick victims into revealing account credentials. Burglars physically broke into homes to steal hardware wallets. Tangeman acted as a money launderer. He converted stolen cryptocurrency into cash using a bulk-cash converter. Tangeman then used the cash to obtain rental homes for members of the group,"
"A 22-year-old California resident has pleaded guilty to his role in a multi-state social engineering scheme that stole roughly $263 million in crypto. Evan Tangeman of Newport Beach, California, admitted laundering $3.5 million in crypto for the criminal enterprise, the U.S. Attorney's Office announced Monday. Tangeman pleaded guilty to participating in a Racketeer Influenced and Corrupt Organizations ( RICO) conspiracy before U.S. District Court Judge Colleen Kollar-Kotelly. Sentencing is scheduled for April 24, 2026. He is the ninth defendant to enter a guilty plea"
Evan Tangeman, a 22-year-old from Newport Beach, California, pleaded guilty to laundering $3.5 million in cryptocurrency as part of a multi-state RICO social engineering enterprise that stole roughly $263 million. The enterprise began in October 2023 and continued through May 2025, originating from friendships on online gaming platforms and involving individuals across several U.S. states and abroad. The scheme combined database hacking, targeted identification, impersonation calls to obtain credentials, and residential burglaries to seize hardware wallets. Tangeman converted stolen crypto to cash via a bulk-cash converter and used funds to secure rental homes for members. Sentencing is set for April 24, 2026.
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