News linked to both this project and an event.
According to the LA Times, Evan Tangeman, a 22-year-old resident of California, was sentenced to 70 months in federal prison followed by three years of supervised release for laundering at least $3.5 million for the “Crypto Kids” criminal organization. The group carried out social engineering scams by impersonating employees of cryptocurrency exchanges such as Coinbase and Gemini, stealing over $263 million worth of digital assets. The illicit proceeds were used to purchase luxury vehicles, lease high-end residences, and fund extravagant spending. In addition to handling money laundering, Tangeman assisted group members in leasing luxury homes and instructed co-defendants to destroy digital devices after other members were arrested. Federal agents seized a Rolls-Royce Ghost and a Porsche GT3 RS from his residence.
Arkham monitoring shows that a U.S. government address has just transferred $606,470 worth of Bitcoin to Coinbase Prime. This Bitcoin was previously seized by the U.S. government from Ilya Lichtenstein, the Bitfinex hacker. It remains unclear whether this batch of stolen Bitcoin will be sold on Coinbase.
According to on-chain analytics platform Lookonchain (@lookonchain), the U.S. government deposited 8.2 BTC (approximately $606,000) into Coinbase Prime; these funds originated from assets previously seized in connection with the Bitfinex hack.