Evan Tangerman, a 22-year-old from Newport Beach, California, has been sentenced to 70 months in prison for his involvement in a $263 million cryptocurrency theft. The U.S. District Court for the District of Columbia also imposed three years of supervised release. Tangerman was part of a criminal group that used hacking and social engineering to steal cryptocurrency, laundering at least $3.5 million. The group, active since October 2023, consisted mainly of young individuals from online gaming platforms. Tangerman's role involved converting stolen crypto into fiat currency and facilitating luxury lifestyles for group members, including leasing homes and receiving luxury cars as compensation. The FBI and IRS Criminal Investigation Division led the investigation, resulting in nine guilty pleas so far.