Share this article
Argentina's Customs Office Seizes $21M in Crypto Mining Equipment: Report
The case involves 2,233 Whatsminer machines that were improperly imported, according to the government.
Updated Apr 10, 2023, 11:53 a.m. Published Jun 28, 2022, 5:27 p.m.
Argentina’s customs office seized 2,233 crypto mining rigs that it claims were improperly invoiced at about $5 million more than their actual value, reported newspaper Ámbito Financiero.
According to a complaint filed by the agency on Thursday, the machines were valued for importation purposes at $10,000 each, but were actually worth just $6,316 to $7,700 each.
STORY CONTINUES BELOW
The case is now being investigated by Judge Pablo Yadarola, who on Monday ordered a survey of the seized goods. “We must take care of the dollars for production and job creation, not for financial speculation,” said Guillermo Michel, general director of the customs office.
The seizure occurred amid a shortage of foreign reserves on the balance sheet of the Argentine Central Bank, which helped lead to a further tightening of import controls by the government this week.
Looking to secure hard American dollars and taking advantage of subsidized residential energy rates, it was previously reported that many Argentines have been mining cryptocurrencies in their homes.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
What to know:
- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
Top Stories
