Gate News reports, April 25 — 22-year-old Evan Tangeman from Newport Beach, California, USA, was sentenced to 70 months in prison on April 24 for his role in laundering 500k dollars. The funds were obtained through a large-scale cryptocurrency scam scheme. The judgment was made after investigations by the U.S. District Court in Washington, D.C., the Federal Bureau of Investigation (FBI), the Internal Revenue Service Criminal Investigation (IRS-CI), and the U.S. Attorney’s Office in Washington, D.C. Tangeman operated under aliases including “E,” “Tate,” and “Evan|Exchanger,” serving as a money launderer for a criminal gang. The gang used social engineering, database intrusions, SIM swapping, and home invasions targeting cryptocurrency wallet holders. The gang exchanged stolen funds into fiat currency and splurged on luxury homes, high-end vehicles, and nightlife; at one point, club expenses reached $500k. When co-defendants Malone Lam and Jeandiel Serrano were arrested, Tangeman instructed accomplice Tucker Desmond to destroy electronic devices used by the gang. The case reflects the increasing efforts of U.S. law enforcement against cryptocurrency crimes. In April 2026, 24-year-old British citizen Tyler Robert Buchanan was sentenced for conspiracy to commit telecom fraud and identity theft; between 2021 and 2023, he used SMS phishing and SIM swapping to steal at least $263 million dollars in crypto assets from organizations and individuals in the U.S. In early 2026, the FBI arrested a government contractor’s son suspected of stealing over $8 million dollars in cryptocurrency seized by U.S. marshals from Saint Martin. According to the FBI’s 2025 Internet Crime Report, total cryptocurrency losses for the year amounted to $46 billion dollars.