Argiroupolis is the site of the ancient city of Lapa. According to the myths, Lapa was created by Agamemnon, the hero of the Trojan war. The older coins of the city show the goddess Vritomartis Artemis, who was a Cretan goddess influenced by the Minoan religion. In the Greek wars they were allies of Knossos but when Knossos destroyed Lyttos the people of Lapa accepted the Lyttoans in their city and their homes.

Lapa was one of the most important cities of western Crete during Roman times. It controlled the area around it from the north to the south coast. It had two harbours, one on the north coast of Crete and another on the south. It is said that its harbour was Finix on the south coast of Crete in present-day Loutro. The coins of Lapa at this time had a representation of Poseidon on them.

Lapa was also important during Byzantine times but it was destroyed by the Arabs in 828 A.D.

Today many buildings and churches have been constructed using stones and other building materials from the ancient cities and the more recent Venetian buildings.