LAPD Recovers $2.7M Worth of Bitcoin Mining Machines Stolen by Crime Ring

The Los Angeles Police Department has recovered $2.7 million worth of Bitcoin mining machines it alleges were stolen by a crime ring in a heist at the city's airport.

The Los Angeles Police Department (LAPD) has recovered Bitcoin mining machines it claims were stolen by a crime ring in a heist at the city’s airport.

Local news outlet ABC7 reports that the police department said on April 22 that detectives from its Cargo Theft Unit, along with the city’s Port Police, Union Pacific Police, and Airport Police, arrested Oscar David Borrero-Manchola and Yonaiker Rafael Martinez-Ramos over the thefts.

Authorities claimed the pair are “prominent members” of a South American crime ring tied to the theft and sale of stolen goods in and around Los Angeles.

The LAPD said searches of storage unit facilities in the San Fernando Valley, northeast of downtown Los Angeles, netted $4 million worth of stolen goods, including the Bitcoin (BTC) mining rigs that were taken from Los Angeles International Airport “as the shipment was about to be loaded onto a plane headed to Hong Kong.”

Detectives also found and seized over $1.2 million in allegedly stolen tequila, clothing, shoes, sneakers, speakers, coffee, body wash, and pet food.

Borrero-Manchola and Martinez-Ramos were booked at Van Nuys Jail in the city’s northwest. Borrero-Manchola was cited for receiving stolen property and was released, while Martinez-Ramos was arrested on a no-bail warrant.

The LAPD said that “the investigation remains ongoing, and additional arrests may follow.”

Crypto mining rigs fetch top dollar

The LAPD didn’t share the number of machines it seized or what model the rigs are, but a typical, current-model Bitcoin mining machine sells for between $3,000 to over $5,000.

Related: Americans lost $9.3B to crypto fraud in 2024 — FBI

US law enforcement has recovered stolen crypto mining rigs in the past. In July, the LAPD said it arrested a man it alleged was in possession of stolen Bitcoin mining rigs worth $579,000, seizing them from a cargo van and storage unit.

One of the largest thefts of Bitcoin mining rigs happened in late 2017 and early 2018 in Iceland, where a group robbed data centers to make off with over 600 machines.

The rigs reportedly ended up in China, as just three months after they were stolen, Chinese authorities seized a similar number and model of mining rigs in Tianjin, a city southeast of the capital, Beijing.