Reported by Danny Park

(Excerpt shared below. To read full report, go to: https://www.theblock.co/amp/post/381820/22-year-old-guilty-crypto-syndicate. To read indictment, go to: https://www.justice.gov/usao-dc/media/1420391/dl)

The U.S. Justice Department announced today that a key figure in a $263 million social engineering scheme has pleaded guilty to charges.

Before U.S. District Court Judge Colleen Kollar-Kotelly, California resident Evan Tangeman, 22, admitted guilt to participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy by laundering over $3.5 million for the scheme. Tangeman is the ninth defendant to plead guilty in this investigation, the statement noted.

The social engineering enterprise ran its scheme from October 2023 to May 2025. The syndicate grew from a group of friends on online gaming platforms, scattered across California, Connecticut, New York, Florida, and abroad. The scheme stole around 4,100 BTC, valued at $263 million at the time. The same amount is currently worth $371 million.