TechFlow News, May 31: According to Infobae, prosecutors from Argentina’s Buenos Aires Province coordinated the “Fake Coins” operation, conducting 90 simultaneous raids nationwide, arresting 24 individuals, and seizing over $8 million in cryptocurrency assets. The case involves fraudulent cryptocurrency investment scams, with losses nearing 3 billion Argentine pesos.
Investigations revealed that suspects lured victims into transferring funds via social media, counterfeit institutional websites, and fake investment platforms. Some of the illicit funds were converted into USDT through Binance’s P2P trading service and then transferred to Venezuelan accounts via Binance Pay. The operation also seized approximately 60 million Argentine pesos in cash and numerous electronic devices.
