Their only gold medal was won by Edwin Vásquez in the 1948 Summer Olympics in the Men's 50 metre pistol.

Among the line of players featured in this first participation of the Blanquirroja were Alejandro Villanueva, Teodoro Fernández, Juan Valdivieso, and Adelfo Magallanes.

[2] The Peruvian players, after arriving to Germany by transport of an Italian ship, were awestruck by the modern stadiums and the German idolatry of Adolf Hitler.

[2][3] As a sign of protest against these actions, which the Peruvians deemed as insulting and discriminatory, the complete Olympic delegations of Peru and Colombia left Germany.

[3] Michael Dasso, a member of the Peruvian Olympic Committee, stated: "We've no faith in European athletics.

[3] In Peru, angry crowds protested against the decisions of the Olympic Committee by tearing down an Olympic flag, throwing stones at the German consulate, refusing to load German vessels in the docks of Callao, and listening to inflammatory speeches which included President Oscar Benavides Larrea's mention of "the crafty Berlin decision.

"[3] To this day, it is not known with certainty what exactly happened at Germany, but it is popularly believed that Adolf Hitler and the Nazi authorities might have had some involvement in this situation.