A local news outlet reports that two individuals tied to a South American theft ring were apprehended in Los Angeles after allegedly stealing $4 million in goods, including $2.7 million worth of application-specific integrated circuit (ASIC) bitcoin miners.
From Tequila to Bitcoin Mining Rigs: LAPD Unravels Multi-Million Dollar Heist
The Los Angeles Police Department (LAPD) announced it had arrested Yonaiker Rafael Martinez-Ramos, 25, and Oscar David Borrero-Manchola, 41, for their alleged involvement in the high-value cargo theft. According to a report from KTLA, the arrests followed what the station described as an “extensive investigation.” Reporter Josh DuBose detailed that the suspects were in possession of roughly $1.2 million worth of pet food, tequila, coffee, clothing, and assorted merchandise.
DuBose further states that investigators executed search warrants at several storage units linked to the accused. The report specifies that the ASIC bitcoin mining machines, valued at $2.7 million, had been stolen from the LAX airport, where they were awaiting shipment to Hong Kong. KTLA cited the LAPD’s press release, which stated:
This case highlights the ongoing collaborative efforts among law enforcement agencies to combat cargo theft and protect the integrity of commercial transport operations. The investigation remains ongoing, and additional arrests may follow.
This is hardly the LAPD’s first encounter with pilfered bitcoin mining equipment, as reports from July 2024 reveal officers apprehended and charged an individual accused of stealing $579,000 in ASIC machines. Earlier that year, in March 2024, the department successfully reclaimed $6.9 million worth of bitcoin miners from a group of thieves, with DuBose, the local journalist covering that development as well.
The repeated theft of high-value ASIC bitcoin miners may point to a strong likelihood of thriving black market demand, fueled by their essential function in cryptocurrency production. These stolen devices could well find their way into underground markets, where it is possible they could be resold to unknown mining enterprises.