According to ChainCatcher, citing CriptoNoticias, Argentine authorities have successfully cracked a major cryptocurrency fraud and money laundering case involving more than 1.8 trillion Argentine pesos (approximately US$1.2 billion), with agricultural businesses being the primary victims.
The criminal organization opened bank accounts using forged documents, obtained loans, and immediately transferred the funds to cryptocurrency trading platforms. They then converted the funds into virtual assets and transferred them to digital wallets. To conceal their activities, the organization used third parties to simulate cryptocurrency arbitrage transactions. Investigations revealed that none of the individuals involved were registered in the virtual asset service provider registration system required by the Argentine National Securities Commission.
The operation, a joint effort by Argentina's Ministry of National Security and the Federal Police, involved eight searches, resulting in the arrest of three men and the notification of two others. Cash, mobile phones, storage devices, laptops, and related documents were seized. The case began with a judicial investigation in October 2025.
