LAPD recovers $2.7M in stolen Bitcoin mining rigs from airport

The Los Angeles Police Department announced the recovery of Bitcoin (CRYPTO:BTC) mining machines valued at $2.7 million that were allegedly stolen in a heist at Los Angeles International Airport.

On April 22, LAPD detectives from the Cargo Theft Unit, alongside Port Police, Union Pacific Police, and Airport Police, arrested Oscar David Borrero-Manchola and Yonaiker Rafael Martinez-Ramos in connection with the theft.

Authorities identified the suspects as key members of a South American crime ring involved in the theft and sale of stolen goods in the Los Angeles area.

During searches of storage units in the San Fernando Valley, officers recovered $4 million worth of stolen items, including the Bitcoin mining rigs that were taken from a shipment about to be loaded onto a plane destined for Hong Kong.

In addition to the mining equipment, investigators seized over $1.2 million in stolen goods such as tequila, clothing, shoes, speakers, coffee, body wash, and pet food.

Some stolen products were also found at a storage facility in downtown Los Angeles.

Borrero-Manchola was booked on charges of receiving stolen property and later released, while Martinez-Ramos was held on a no-bail warrant.

The LAPD stated that the investigation is ongoing and additional arrests may be made.

Bitcoin mining rigs typically sell for between $3,000 and $5,000 per machine, though the department did not disclose the exact number or models recovered.

This is not the first time law enforcement has recovered stolen crypto mining equipment.

In July, LAPD arrested a suspect found with stolen Bitcoin miners worth $579,000.

Historically, one of the largest thefts occurred in Iceland between 2017 and 2018, when over 600 mining rigs were stolen and later seized in China.

At the time of reporting, the Bitcoin (BTC) price was $92,692.40.