PANews reported on April 26 that, according to Cointelegraph, the U.S. Department of Justice has sentenced 22-year-old Evan Tangeman from California to 70 months in prison, with an additional three years of supervised release, for his involvement in a major cryptocurrency fraud case involving $263 million.

The gang stole users' encrypted assets through social engineering fraud and burglary, squandering the proceeds on luxury cars, watches, real estate, and other high-end consumer goods. The defendant admitted to assisting in money laundering of at least $3.5 million and also destroyed evidence after his accomplices were arrested, demonstrating egregious conduct.

Data shows that global losses from crypto fraud and hacking reached $482 million in the first quarter of 2026. Social engineering attacks and violent property thefts targeting crypto holders continue to be frequent, and many countries have stepped up criminal prosecution and prevention measures.