Argentine customs officers have confiscated 2,233 miners that were brought into the country by an American company in a fraudulent scheme bypassing the customs declaration.
The Argentine Customs Authority is investigating an alleged fraudulent scheme involving a U.S. company to revalue cryptocurrency mining equipment. A Florida-based company has poisoned a large batch of cryptocurrency mining devices, including several Whatsminer M30S models, to Argentina. More than 2,233 pieces of equipment worth $21.9 million were flown into the country through Buenos Aires Ezeiza International Airport and sent to the special tax zone in La Plata without obtaining the necessary permits.
During the audit, the Argentine customs authorities revealed that the devices were declared at an average price of $10,000. However, the investigation showed that their real value is between $5,770 and $7,420, while the market value is slightly higher, from $6,316 to $7,700. Thus, the importer overestimated the batch of delivered equipment by about $5 million, with the proviso that a more accurate determination of the cost requires a calculation of the mining power of each device.
According to investigators, the scammers used this route because it is not necessary to issue a SIMI (Integrated Import Monitoring System) declaration for transit to a special territory. The miners were reportedly imported from China, but the bill was issued by an American company from Florida. Argentine customs officers have filed a lawsuit against those involved in the fraudulent scheme.
“We should care about the duties needed to develop our production and create jobs, not financial speculation,” said Argentine Customs Director General Guillermo Michel.
In 2021, Turkish customs authorities stopped the illegal import of ASIC miners and confiscated 501 devices. The estimated value of the seized equipment is more than $600,000.
Source: Bits
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