Argentine police arrest 24 individuals and seize over $8 million in cryptocurrency during operation

Odaily Planet Daily reported that the Public Prosecutor's Office of Buenos Aires Province in Argentina coordinated with judicial authorities and police in multiple regions to launch a large-scale joint operation codenamed "Fake Coins" targeting fraudulent cryptocurrency investment schemes. Authorities conducted 90 simultaneous searches nationwide, arresting 24 suspects. The operation successfully intercepted and seized a total of 8 million USDT, valued at over $8 million, along with nearly 6 million Argentine pesos in cash and a large number of electronic devices.

Investigations revealed that the criminal group lured victims into investing through social media and fake apps, with total losses estimated at nearly 3 billion pesos. The San Isidro judicial department seized the majority of crypto assets during an investigation into a criminal group of Chinese nationality. This group developed malware to steal user information and launder money, with some funds converted into USDT through Binance P2P transactions. (Infobae)