Argentina has cracked a cryptocurrency fraud and money laundering case involving an amount of 1.2 billion dollars

According to CriptoNoticias, Argentine authorities have successfully dismantled a large-scale fraud and money laundering case involving cryptocurrency, with an amount exceeding 1.8 trillion Argentine pesos (approximately 1.2 billion USD), primarily affecting agricultural enterprises.

The criminal organization opened bank accounts using forged documents, obtained loans, and then immediately transferred the funds to cryptocurrency trading platforms, subsequently converting them into virtual assets and transferring them to digital wallets. To cover their tracks, the organization used third-party individuals to simulate cryptocurrency arbitrage trading. Investigations revealed that the individuals involved were not registered in the virtual asset service provider registration system required by the Argentine National Securities Commission.

The operation was jointly executed by the Argentine Ministry of Security and the Federal Police, involving 8 searches, the arrest of 3 men, and notifications to 2 others. Cash, mobile phones, storage devices, laptops, and related documents were seized during the operation. The case began with a judicial investigation in October 2025.