The U.S. Department of Justice has revealed that another individual has admitted guilt in a far-reaching crypto money laundering operation, where over $263 million in Bitcoin was drained from a single victim in Washington, D.C., alongside hundreds of millions more stolen from across the nation.
On December 8, 22-year-old Evan Tangeman from California pleaded guilty to racketeering conspiracy charges in a federal court in Washington, D.C. This case ties back to a cybercrime group known as the “Social Engineering Enterprise,” or SE Enterprise.
During the court proceedings, Tangeman disclosed that he assisted in laundering at least $3.5 million in stolen cryptocurrency on behalf of the enterprise. U.S. District Court Judge Colleen Kollar-Kotelly has scheduled his sentencing for April 24, 2026.
The Transition from Gaming to Crypto Crime
The indictment claims SE Enterprise began its operations in October 2023, continuing through at least May 2025.
Members of the group were located in several states, including California, Connecticut, New York, Florida, as well as other countries. They operated with specific roles, such as hackers, organizers, impersonators acting as exchange support staff, and burglars targeting victims’ hardware wallets.
It all began as alliances formed on online gaming platforms, which then turned into an organized crime group.
Tangeman’s responsibilities included converting hacked Bitcoin into traditional cash, renting luxury properties using fictitious identities, and securing about $3 million in cash for the group’s leader, Malone Lam, right after the robbery took place.
Moreover, he monitored home security footage while the FBI raided Lam’s Miami home and later told another member of the team to destroy digital devices to hinder the investigation.
Court documents reveal that this group used stolen data to find wealthy cryptocurrency owners, tricking victims into providing their access credentials.
A notable theft by the group involved over 4,100 BTC, once worth $263 million and now valued at over $370 million, stolen from a Washington, D.C. victim.
Facing RICO Charges
The DOJ has taken action to charge the group under the RICO Act, a law originally designed to combat organized crime syndicates like the mafia but has expanded to cover a range of crimes, including fraud and cyber-related misconduct.
The stolen funds financed a lifestyle filled with luxury—nightclub bills that reached $500,000 per night, designer handbags costing tens of thousands, high-end watches worth from $100,000 to $500,000, stylish clothing, private jets, mansions in prime locations like L.A., the Hamptons, and Miami, a personal security team, and an impressive collection of at least 28 exotic cars valued at between $100,000 and $3.8 million.
Law enforcement arrested alleged ringleader Lam along with co-defendant Jeandiel Serrano last September. This was achieved with assistance from noted blockchain investigator ZachXBT, who traced the stolen assets through intricate mixers and layered “peel chain” transactions.
Alongside Tangeman’s plea, prosecutors also introduced a new indictment adding three more defendants: Nicholas “Nic” or “Souja” Dellecave, Mustafa “Krust” Ibrahim, and Danish “Danny” or “Meech” Zulfiqar, all of whom are facing RICO conspiracy charges.
