Argentina Tax Authority Busts Major Bitcoin Mining Hardware Smuggling Ring

Argentina’s tax agency (AFIP) and naval officers conducted a series of raids, dismantling a Bitcoin mining hardware smuggling operation. Authorities seized over $624,000 in assets, including mining hardware, high-end electronics, and cash, arresting four individuals accused of smuggling and money laundering.

Argentinian authorities have successfully dismantled a large-scale smuggling operation involving Bitcoin mining hardware, following a joint operation between the country’s tax authority, the Administración Federal de Ingresos Públicos (AFIP), and the Argentine Naval Prefecture (PNA). The multi-city raids, which took place in Mar del Plata and Bahía Blanca, uncovered a ring that illegally imported cryptocurrency mining equipment and laundered the profits through crypto investments

According to reports from local media outlets La Capital Mar Del Plata and 0223, the smuggling ring brought “hundreds” of high-end electronics into the country, including cell phones, video cards, and specialized ASIC mining rigs. Officers noted that the group hid its illegal profits using cryptocurrency investments, avoiding detection from authorities.

Illicit Bitcoin Mining Hardware Seized
The raids revealed that the operation involved the illegal importation of mining hardware, including devices from Canaan, a well-known producer of Bitcoin mining equipment. Argentinian law mandates that only authorized companies with special permits can import such equipment, making the ring’s activities illegal.

Authorities also found that the smugglers may have used a clothing store as a front to store the illicit hardware. Images shared by the agencies showed officers standing outside the store, and further inspections led to the seizure of documents linked to a corporation believed to be at the heart of the operation.

Seized Assets and Arrests
During the raids, officials confiscated assets valued at over $624,000, including more than 30 million pesos (over $31,000), $19,000 in U.S. dollars, electronics, and other valuables. The operation resulted in the arrest of four individuals—two men and two women—who now face charges of smuggling and money laundering.

The authorities emphasized their ongoing efforts to combat illicit crypto activities, noting that this is part of a broader crackdown on unauthorized Bitcoin mining and crypto exchanges that fail to comply with anti-money laundering regulations.

Crackdown on Illicit Crypto Operations
This is not the first time the AFIP has targeted illegal Bitcoin mining operations. In 2022, the agency uncovered illegal mining activities in surprising locations, including a livestock farm and a luxury apartment complex. More recently, the tax authority has taken steps to enforce anti-money laundering protocols across all crypto platforms operating in the country, ensuring compliance as Argentina’s crypto market grows.

With the increasing adoption of cryptocurrency, Argentina’s regulatory bodies are ramping up efforts to prevent financial crimes, including smuggling and money laundering, within the rapidly expanding digital asset space.

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