Argentine tax officials and naval security personnel joined forces to dismantle a large smuggling ring of bitcoin mining equipment. In this "major operation", the Argentine Navy General Administration (PNA) and the Federal Administration of Public Revenue (AFIP) conducted multiple raids and seized hundreds of high-end mobile phones, graphics cards and mining components. According to officials, the group used "crypto investments" to launder money and smuggle in the cities of Mal de Plata and Bahia Blanca. More than 30 million pesos (about $31,000) and $19,000 in cash were seized during the operation, and four suspects have been arrested and face smuggling and money laundering-related charges.