The Los Angeles Police Department has recovered $2.7 million worth of Bitcoin mining machines that a criminal group reportedly stole during a major heist at the city’s airport. LAPD shared on Apr. 22 that detectives from its Cargo Theft Unit, working with Port Police, Union Pacific Railroad Police, and Airport Police, arrested Oscar David Borrero-Manchola and Yonaiker Rafael Martinez-Ramos over the cargo thefts.
Authorities have identified the two individuals as major players in a South American crime ring involved in stealing and selling stolen goods throughout the Los Angeles area.
LAPD reported that searches of storage units in the San Fernando Valley, located northeast of downtown Los Angeles, recovered $4 million worth of stolen items. This included Bitcoin mining rigs taken from Los Angeles International Airport as the shipment was about to be loaded onto a plane heading to Hong Kong.
LAPD cracks crypto theft case
Detectives also found and confiscated more than $1.2 million worth of stolen items, including tequila, body wash, shoes, speakers, clothing, coffee, and pet food. Authorities took Borrero-Manchola and Martinez-Ramos to Van Nuys Jail in the northwest part of the city.
Borrero-Manchola was pointed out for receiving stolen property and was later released, while Martinez-Ramos was arrested due to a no-bail warrant. According to the LAPD, the investigation is still ongoing, and there could be more arrests in the future. The LAPD didn’t reveal how many machines it seized or the specific rig models.
However, a typical Bitcoin mining machine on the market today can range in price from $3,000 to over $5,000. In the past, US law enforcement has successfully recovered stolen crypto mining rigs. For example, in July, the LAPD arrested a man who they claimed was in possession of stolen Bitcoin mining rigs valued at $579,000. Authorities seized the rigs from both a cargo van and a storage unit.
In late 2017 and early 2018, Iceland witnessed one of the biggest Bitcoin mining rig heists in history. A group of thieves broke into several data centers and stole over 600 mining machines.
