Illegal Bitcoin Mining Operation in Argentina: Authorities Announced Details!

Argentina’s tax collection agency (AFIP) carried out an illegal operation with 70 raids with the government of Buenos Aires province. cryptocurrency announced that it had arrested 40 people after crashing its mining operation.

“Loads of Cash and Cryptocurrency Mining Equipment Seized”

AFIP stated that a shack allegedly used for cryptocurrency mining “has a large number of graphics cards and the necessary shelves and resources for their connection,” adding that “significant amounts of cash and bitcoin announced that it had seized “mining equipment”.

The authorized institution wrote the following about the incident on its official website:

“In a major operation, through the Federal Public Revenue Service (AFIP), the General Tax Administration (DGI) and the General Customs Department (DGA), with the Buenos Aires Prosecutor General’s Office and the Buenos Aires Ministry of Security, a secret cryptocurrency manufacturing facility operating on stolen lines in the Quilmes area eliminated.

The development consisted of 70 raids in which 40 people were arrested as part of a major initiative against cyber scams that caused 50 million pesos, $2 million in economic damage and the electricity theft is being investigated.

It was stated by the authorities that the electrical energy used for mining in the operation was also stolen:

In the operation, a shack with a “farm” layout, allegedly used for cryptocurrency mining, with a large number of video cards and the necessary racks and resources for their connection was detected.

At the same time, cables and different types of fasteners were found that were allegedly used to steal electricity and reduce the operation’s high operating costs.”

In September, AFIP began conducting audit and control missions against the crypto industry for the first time, and conducted nationwide raids in search of unregistered crypto miners.

*Not investment advice.