SINGAPORE, April 25 -- A Washington DC federal court has handed a 70‑month prison term to Evan Tangeman, 22, for laundering millions of dollars linked to a cryptocurrency theft ring allegedly headed by Singaporean Malone Lam.

Prosecutors described the network as a "multi‑state criminal enterprise" that siphoned more than US$263 million (RM1.04 billion) in digital assets through a sophisticated social engineering scheme, according to CNA.

"This criminal enterprise was built on greed so brazen it borders on the cartoonish," US Attorney Jeanine Pirro said, highlighting how stolen funds were spent on "half‑million‑dollar nightclub tabs, Lamborghinis, and Rolexes."

Tangeman admitted in December to racketeering conspi...