California man sentenced to 70 months for laundering $3.5 million in crypto heist

Bleeping Computer reports that Evan Tangeman, a 22-year-old from Newport Beach, California, has been sentenced to 70 months in prison for his role in laundering at least $3.5 million stolen in a massive $230 million cryptocurrency heist.

Tangeman, also known by aliases such as "E" and "Tate," assisted suspects behind the cryptocurrency theft between October 2023 and May 2025. The larger heist, involving over $230 million in cryptocurrency, was carried out by 14 suspects. Two individuals, Malone Lam and Jeandiel Serrano, were arrested in September 2024 for allegedly stealing over 4,100 Bitcoin from a Washington, D.C. victim. The attackers reportedly used spoofed phone numbers and impersonated customer support from Google and Gemini to trick the victim into resetting their two-factor authentication and granting remote access.

The stolen funds were then laundered using a combination of crypto mixers, exchanges, and techniques like "peel chains" and pass-through wallets. Tangeman pleaded guilty in December 2025 to laundering stolen funds for a criminal organization as part of a RICO conspiracy. He was also ordered to serve three years of supervised release. Another individual, Kunal Mehta, has also pleaded guilty to laundering at least $25 million and is awaiting sentencing.

Source: Bleeping Computer