Argentinian tax officials and naval security forces successfully busted an ASIC Bitcoin mining hardware smuggling and money laundering ring

Argentina’s tax officials and naval security forces have successfully dismantled a large-scale Bitcoin mining hardware smuggling ring.

In a coordinated operation, the Argentine Naval Prefecture (PNA) and the national tax authority, the Administración Federal de Ingresos Públicos (AFIP), conducted multiple raids across the country, leading to the seizure of high-end electronic equipment and arrest of key suspects.

Crypto Mining Hardware and Laundering Scheme Uncovered

Authorities revealed that the group had illegally imported “hundreds” of high-end mobile phones, video cards, and cryptocurrency mining components, which were smuggled into Argentina.

These components, crucial for Bitcoin mining, are strictly regulated, with only licensed companies permitted to import dedicated mining rigs.

The investigation also uncovered evidence suggesting the group laundered its illicit profits using cryptocurrency investments to evade detection.

Images shared by officials showed boxes emblazoned with the logo of Canaan, a well-known producer of ASIC Bitcoin mining hardware, confirming the smuggling of specialised equipment.

A key detail in the investigation points to the possible use of a small clothing store as a front for storing and distributing the illicit mining gear.

National tax authority officials at a branch of the Pampas region (Pampeana) customs service stand in front of confiscated goods. Several boxes bear the Canaan logo. (Source: AFIP)

Seizures and Arrests Across Key Locations

During the raids, authorities seized over 30 million pesos (worth approximately $31,000) and $19,000 in U.S. currency, along with a range of electronic devices, a motor vehicle, and additional financial assets. In total, the operation netted assets valued at over $624,000.

The raids took place in the coastal city of Mar del Plata and Bahía Blanca, leading to the arrest of four individuals—two men and two women.

These individuals have been formally charged with smuggling and money laundering offences.

The PNA and AFIP are also investigating documents linked to a corporation suspected of playing a central role in the operation.

A Growing Crackdown on Crypto-Related Offences

This is not the first time Argentine authorities have targeted illegal crypto operations. In 2022, AFIP uncovered unlawful Bitcoin mining farms operating in unexpected locations, including a livestock farm and luxury apartments.

More recently, the agency has focused on illegal reselling of Worldcoin (WLD) and tightening anti-money laundering regulations within the country’s cryptocurrency sector. All platforms operating in Argentina must now ensure strict compliance with these protocols.

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