Evan Tangeman, a 22-year-old man from Newport Beach, California, has been sentenced to 70 months in prison for stealing $263 million in cryptocurrency from a multi-state criminal enterprise that used an elaborate social engineering scheme to steal the money. Tangeman pleaded guilty to participating in a RICO conspiracy and admitted to helping launder at least $3.5 million for members of the criminal enterprise. He laundered the stolen cryptocurrency by converting it into fiat cash and renting Los Angeles mansions for $40,000 to $80,000 per month. The criminal organization was made up of friends who met through online video games. They used the stolen money to spend hundreds of thousands of dollars on nightclub parties, luxury handbags, watches and clothing, and a fleet of luxury cars. The crimes were committed between October of 2023 and May 2025 by members from California, Connecticut, Florida, New York and abroad.