US court sentences money launderer in $263M crypto fraud to 70 months

A U.S. court has sentenced Evan Tangeman of California to 70 months in prison for money laundering in connection with a $263 million cryptocurrency fraud ring, Decrypt reported. Tangeman admitted to laundering at least $3.5 million in stolen funds for the organization, which has been operating on online platforms since 2023. The court's sentence also took into account his obstruction of justice, including attempts to destroy evidence. He was also ordered to serve three years of supervised release.