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

LAPD Cargo Theft Squad operatives, working with Port Authority Police, Union Pacific Police and Airport Police, arrested Oscar David Borrero-Manchola, 41, and Yonaiker Rafael Martinez-Ramos, 25, who the department described as “prominent members” of a South American cargo theft ring in the Los Angeles area.

A Bitcoin miner is a specialized computer 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.

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 specify the destinations of the other stolen goods, but noted that the Bitcoin miners were in shipping containers bound 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 in a statement. “The investigation is ongoing and additional arrests are possible.”
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Bitcoin Miner Thefts

The seizure is the latest in a series of US law enforcement operations to confiscate stolen bitcoin mining equipment.

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

Source: cryptonews.net