The Los Angeles Police Division (LAPD) has dismantled a cargo theft operation, recovering practically $4 million in stolen items, together with Bitcoin mining gear valued at $2.7 million, after tracing the exercise to a warehouse in San Pedro, California.
In keeping with authorities, detectives from the LAPD’s Business Crimes Division Cargo Theft Unit (CTU) arrested two suspects final week following a coordinated investigation involving the Los Angeles Port Police, Union Pacific Police Division, and Los Angeles World Airport Police.
Two Arrested in $4M Cargo Theft Operation Involving Bitcoin Mining Tools
The suspects, recognized as 41-year-old Oscar David Borrero-Manchola and 25-year-old Yonaiker Rafael Martinez-Ramos, are alleged members of the South American Theft Group (SATG), a legal community identified for its involvement in high-value cargo theft throughout the area.
The investigation led officers to a number of storage items within the San Fernando Valley, the place detectives recovered over $1.2 million value of stolen items, together with high-end shopper merchandise equivalent to tequila, audio system, espresso, clothes, and pet meals.
LAPD NEWS: NR25080dc @LAPD_CCD Cargo Theft Unit Arrests Two Suspects and Recuperate Over $3,900,000 in Stolen Property pic.twitter.com/DfRI07HJQn
— LAPD PIO (@LAPDPIO) April 23, 2025
Probably the most largest restoration, nevertheless, was a cargo of Bitcoin mining computer systems, that are specialised machines used to confirm blockchain transactions and earn cryptocurrency, have been intercepted at Los Angeles Worldwide Airport.
The mining {hardware} was valued at $2.7 million, and it was seized simply earlier than it was to be loaded onto a flight certain for Hong Kong.
Borrero-Manchola was booked at Van Nuys Jail for receiving stolen property and later cited and launched. Martinez-Ramos, nevertheless, was arrested on a no-bail warrant and stays in custody.
Authorities say the investigation is ongoing, and extra arrests could also be forthcoming.
Regulation enforcement has additionally referred to as on the general public to supply any info that may help within the case, urging individuals to come back ahead with ideas associated to stolen cargo or suspicious exercise involving freight.
The restoration marks one of many largest hauls of stolen Bitcoin mining {hardware} in latest reminiscence, displaying the rising intersection of digital property and bodily logistics crime.
Crypto Crime Expands Past {Hardware} Theft as Subtle Scams Surge in 2024
The LAPD’s restoration of $2.7 million in stolen Bitcoin miners is only one thread in a rising net of crypto-related crime that escalated all through 2024.
Following the July 1 arrest of Bryan Thola, 26, who was discovered with stolen ASIC mining gear stashed in a Canyon Nation storage facility, authorities are drawing consideration to a broader sample.
Whereas bodily thefts stay a problem, as seen in a March case involving $6.9 million in stolen rigs, cybercriminals have turn out to be more and more strategic, shifting their focus to digital deception.
The California Division of Justice reported dismantling 42 fraudulent crypto web sites in 2024 that collectively scammed victims out of $6.5 million, with some people shedding over $140,000 every.
These websites lured customers with unrealistic guarantees, flashy incentives, and an absence of verifiable presence within the reputable cryptocurrency house.
Safety corporations have additionally sounded the alarm, with Cyvers figuring out “pig butchering” scams as a significant risk, costing the business over $5.5 billion final yr alone.
In the meantime, CertiK’s information reveals phishing assaults drained one other $1 billion throughout practically 300 incidents, marking phishing as the highest crypto risk of 2024.
In keeping with Chainalysis’ 2025 Crypto Crime Report, illicit exercise within the sector surged to $51 billion final yr, as cybercrime syndicates adopted extra superior laundering strategies utilizing stablecoins, DeFi platforms, and AI-generated deception.
Ransomware funds declined 35% year-over-year (YoY), however analysts warn that the shift to stablecoins and privateness cash, equivalent to Monero, signifies extra subtle laundering ways, not much less crime.
Trying ahead, the LAPD’s restoration of $2.7 million value of Bitcoin mining gear reveals the escalating risk of organized crime focusing on each bodily and digital property, emphasizing the necessity for legislation enforcement collaboration to safeguard provide chains and cryptocurrency infrastructure.
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