US hackers steal record $ 371 million in cryptocurrency

The U.S. Department of Justice announced that 22-year-old Evan Tengeman, a California resident, pleaded guilty in a $ 263 million social engineering scheme. He admitted to participating in a RICO criminal organization and laundering more than $ 3.5 million. This is the ninth suspect to plead guilty in this case.

According to the investigation, the scheme operated from October 2023 to May 2025. The group emerged among online gamblers and included participants from California, Connecticut, New York, Florida, and several other countries. The attackers took possession of approximately 4,100 BTC, which at the time of the theft was estimated at $ 263 million, and now its value is about $ 371 million.

The organization had a clear structure: hackers, coordinators, victim «identifiers,» phone scammers, and even burglars who stole hardware crypto wallets. Using the stolen databases, the criminals targeted the richest cryptocurrency holders. Calls were made on behalf of alleged technical support: victims were convinced that their accounts had been hacked and offered «help», after which funds were transferred to controlled addresses.

The participants spent the stolen bitcoins on luxurious living: paying for the services of elite nightclubs, buying designer handbags, watches, cars, renting villas, private jets, and even bodyguards. According to the investigation, Tengeman was responsible for converting cryptocurrency into cash through illegal intermediaries and registering real estate leases for front companies to hide the real owners.

After his confession, the court released a second updated version of the indictment, which includes three new suspects — Nicholas Dellecave, Mustafa Ibrahim and Danis Zulfikar. They were recently detained and are awaiting trial. The case is called one of the largest in the United States in terms of cryptocurrency crimes committed through social engineering.