- The Los Angeles Police Department has seized $2.7 million in stolen Bitcoin mining equipment.
- The hardware was intercepted at Los Angeles International Airport before it could be shipped to Hong Kong
- Two suspects tied to a South American theft ring have been arrested
Authorities in Los Angeles have carried out a major cargo theft bust, recovering nearly $4 million in stolen goods, including a shipment of Bitcoin mining equipment worth $2.7 million. The Los Angeles Police Department (LAPD) says the gear was destined for Hong Kong and was stopped at Los Angeles International Airport (LAX) before it could be illegally exported. The operation also led to the arrest of two suspects connected to a South American theft network that has increasingly targeted crypto assets.
Mining Hardware Was Leaving the Country
The LAPD’s Cargo Theft Unit, working alongside Los Angeles Port Police, Union Pacific Police, and LAX authorities, discovered the high-value shipment during raids on multiple storage units in the San Fernando Valley. “The total value of the equipment was approximately $2.7 million,” the LAPD confirmed in a press release, making the bust a significant one.
The equipment — believed to be intended for underground crypto operations abroad — was already in transit and ready to be loaded for export to Hong Kong before law enforcement intervened. Authorities say it’s a notable sign of how organized theft rings are adapting to the growing demand for crypto mining gear.
The two individuals arrested, Oscar David Borrero-Manchola (41) and Yonaiker Rafael Martinez-Ramos (25), were identified as members of a South American Theft Group (SATG), a network known for targeting high-value tech and consumer goods. While Borrero-Manchola was cited and released, Martinez-Ramos remains held without bail.
Police say the group may be tied to a broader pattern of international smuggling operations, and further arrests are expected as the investigation continues.
Crypto Equipment: A New Target for Theft
With the rise of digital assets, criminal groups are shifting focus toward the hardware that powers the ecosystem. The LAPD urged crypto-related businesses to bolster supply chain security, warning that high-value components like mining rigs are now firmly on the radar of international theft syndicates.
Anyone with information has been asked to contact the Commercial Crimes Division of the LAPD.
