LAPD Seizes $2.7 Million in Stolen Bitcoin Miners in Cargo Theft Investigation

LAPD Seizes $2.7 Million in Stolen Bitcoin Miners in Cargo Theft Investigation | INFbusiness

Los Angeles Police Department detectives have recovered more than $3.9 million in stolen merchandise, including $2.7 million in Bitcoin miners, after tracking down a cargo theft ring at a warehouse in San Pedro, California.

The Los Angeles Police Department's Cargo Theft Unit, along with the Los Angeles Port Police, Union Pacific Police and Airport Police, arrested Oscar David Borrero-Manchola, 41, and Yonaiker Rafael Martinez-Ramos, 25, whom the department described as “prominent members” of a South American crime ring linked to cargo thefts in the Los Angeles area.

A Bitcoin miner is a specialized device designed to solve complex mathematical problems that verify transactions on the Bitcoin network and receive cryptocurrency as a reward.

The Los Angeles Police Department did not immediately respond to Decrypt's request for comment on the incident.

In addition to the Bitcoin miners, detectives found $1.2 million in stolen merchandise, including tequila, speakers, coffee, clothing, shoes, body wash, and pet food. The Los Angeles police did not say where the rest of the stolen items were headed, but they said the miners were in containers destined for Hong Kong.

“This case highlights the ongoing collaborative efforts of law enforcement agencies to combat cargo theft and protect the integrity of commercial transportation operations,” the Los Angeles police department said. “The investigation is ongoing and additional arrests may be made.”
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Bitcoin Miner Thefts

The seizure is the latest in a series of U.S. law enforcement operations to recover stolen bitcoin mining equipment.

Last summer, in July 2024, Los Angeles police arrested Brian Tolu on suspicion of possessing $579,000 in stolen Bitcoin miners. That same month, Baton Rouge police seized 250 stolen Bitcoin miners after raiding an abandoned warehouse in Louisiana.

Source: cryptonews.net

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