Argentina’s tax officials and naval security officers have announced that they have dismantled a large-scale Bitcoin mining hardware smuggling operation. According to reports from media outlets, the Argentine Naval Prefecture (PNA) conducted multiple raids in a coordinated “mega-operation” with the national tax authority, the Administración Federal de Ingresos Públicos (AFIP).
Bitcoin Mining Hardware Smugglers Busted
Authorities stated that the smuggling ring was responsible for bringing “hundreds” of “high-end cell phones, video cards, and components for cryptocurrency mining” into the country illegally. They further alleged that the group utilized “crypto investments” to launder their profits and evade detection.
The state agencies released images of the confiscated goods, including pictures of customs officers standing in front of boxes bearing the Canaan logo, a well-known producer of ASIC Bitcoin (BTC) mining hardware. Under Argentine law, only companies with permits are allowed to import dedicated crypto mining equipment.
Seized Goods and Arrests
During the raids, officers seized over 30 million pesos (approximately $31,000) and $19,000 in US dollars. They also confiscated a motor vehicle, various electronic items, other financial assets, and documents believed to be connected to the case. A total of four individuals, two men and two women, were arrested and have been charged with smuggling and money laundering-related offenses.
Raids Across Multiple Cities
The raids took place in several locations, including Mar del Plata, a major city on Argentina’s Atlantic coast, and Bahía Blanca, located in the southwest of Buenos Aires Province. The authorities believe the group used a small store as a front for storing the illicit crypto mining equipment.
In total, the PNA and AFIP estimate that the seized assets have a market value of over $624,000.
Crackdown on Crypto-related Crimes
This operation is part of a broader crackdown by the Argentine tax authority on illegal cryptocurrency activities. In 2022, the AFIP targeted illegal Bitcoin mining farms located in unusual places such as a livestock farm and a luxury apartment block. The agency has also recently announced its intent to crack down on illegal Worldcoin (WLD) resellers.
With Argentina’s economy facing recession due to President Javier Milei’s currency devaluation and austerity measures, the tax body is intensifying efforts to ensure that all crypto exchanges in the country comply with anti-money laundering protocols.
