According to local media reports, Argentine tax officials and naval security officials said they had thwarted a major "smuggling" ring of bitcoin mining machines. The Argentine Naval Prefecture and the national tax agency, AFIP, conducted several raids as part of a joint "large-scale operation." Four people, including two men and two women, were arrested after raids on six homes in two cities, the police said. The agency confirmed that all four had been formally charged with smuggling and money laundering. Criminal gangs smuggled "hundreds" of "high-end mobile phones, graphics cards and cryptocurrency mining components" into the country and used "crypto investments" to launder money and hide profits from authorities, officials said. According to Argentine law, only companies with a license can import specialized cryptocurrency mining equipment. Police also released photos of armed men standing in front of a clothing store, suggesting that the gang may have used a small store as a front, as well as a makeshift warehouse for storing illegal crypto mining machines.