The group spent tens of millions of dollars on luxury items and real estate, using funds stolen from crypto users in social engineering scams. Evan Tangeman, a 22-year-old resident of California, was sentenced on Friday to 70 months in prison for his role in a criminal enterprise that stole about $263 million in cryptocurrencies from victims through social engineering scams and burglary. Tangeman pleaded guilty to the charges in December 2025 and admitted to helping members of the criminal organization launder at least $3.5 million in illicit funds, according to the US Department of Justice’s (DOJ) announcement. He also received three years of supervised release in addition to his prison sentence for his role in the scheme, the DOJ said. Read more
Bitcoin advocate Matthew Kratter said US Navy Admiral Samuel Paparo's Senate testimony on Tuesday sounded like it was written by an "intern." Several members of the Bitcoin community cast doubt on the US government’s understanding of the Bitcoin network after a high-ranking military official told the Senate Armed Services Committee on Tuesday that the US government runs a Bitcoin node. “Our research into Bitcoin is as a computer science tool. It's the combination of cryptography, a blockchain, and a proof of work,” US Navy Admiral Samuel Paparo told the Senate Armed Services Committee. Bitcoin educator and advocate Matthew Kratter said that it sounded like the admiral was reading from the Bitcoin “Wikipedia page,” casting doubt on Paparo and US Senator Tommy Tuberville’s knowledge of the protocol. Kratter added: Read more