Authorities in Argentina dismantled a $100 million crypto operation following the arrest of two Chinese and one Argentine national linked to a $1.25 million investment scam.

The investigation exposed a supermarket facade concealing an illegal cryptocurrency mining operation, seizing numerous graphics cards.

Fernando Barbatelli, the Argentine suspect, allegedly persuaded victims to invest 20 bitcoin by posing as a seasoned cryptocurrency investor.

One of the detained Chinese nationals was found to have transferred over $100 million through cryptocurrency wallets in the past two years.

In a separate operation, 64 raids across Argentina targeted illegal crypto acquisitions from malware attacks, marking a significant crackdown on illicit cryptocurrency activities.