Argentina Tax Body Raids Bitcoin Mining ‘Hardware Smuggling Ring’
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
Argentina tax officials and naval security officers say they have thwarted a major Bitcoin mining hardware “smuggling” ring.
Per the media outlets La Capital Mar Del Plata and 0223, the Argentine Naval Prefecture (PNA) made multiple raids as part of a joint “mega-operation” with the national tax authority, the Administración Federal de Ingresos Públicos (AFIP).
The officials said that the ring smuggled “hundreds” of “high-end cell phones, video cards, and components for cryptocurrency mining” into the country.
They also claimed that the group allegedly used “crypto investments” to launder its profits and hide them from the authorities.
The state agencies published images of the money and items they seized. Among these photos was an image of customs officers standing in front of cardboard boxes bearing the Canaan logo.
Canaan is known in the crypto world as a major producer of ASIC Bitcoin (BTC) mining hardware.
Under Argentinian law, only permit-holding companies may import dedicated crypto mining rigs.
Officers also published photos of armed officers standing in front of what appears to be a clothing store.
This may suggest that the ring may have used a small store as a front – and a makeshift warehouse – for illicit crypto mining equipment storage.
Officers also said they seized “more than 30 million pesos” (worth over $31,000) and $19,000 in US dollars.
They added that they conducted multiple raids including in Mar del Plata, a major city on Argentina’s Atlantic coast.
Officers also raided properties in Bahía Blanca, another city,
Read more on cryptonews.com
