Breaking: LAPD Seizes $2.7M in Stolen Bitcoin Miners After Cargo Ring Bust

The Los Angeles Police Department (LAPD) has dismantled a cargo theft operation, recovering nearly $4 million in stolen goods, including Bitcoin mining equipment valued at $2.7 million, after tracing the activity to a warehouse in San Pedro, California.

According to authorities, detectives from the LAPD’s Commercial Crimes Division Cargo Theft Unit (CTU) arrested two suspects last week following a coordinated investigation involving the Los Angeles Port Police, Union Pacific Police Department, and Los Angeles World Airport Police.

The suspects, identified 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 criminal network known for its involvement in high-value cargo theft across the region.

The investigation led officers to multiple storage units in the San Fernando Valley, where detectives recovered over $1.2 million worth of stolen goods, including high-end consumer products such as tequila, speakers, coffee, clothing, and pet food.

LAPD NEWS: NR25080dc @LAPD_CCD Cargo Theft Unit Arrests Two Suspects and Recover Over $3,900,000 in Stolen Property pic.twitter.com/DfRI07HJQn

The most largest recovery, however, was a shipment of Bitcoin mining computers, which are specialized machines used to verify blockchain transactions and earn cryptocurrency, were intercepted at Los Angeles International Airport.

The mining hardware was valued at $2.7 million, and it was seized just before it was to be loaded onto a flight bound for Hong Kong.

Borrero-Manchola was booked at Van Nuys Jail for receiving stolen property and later cited and released. Martinez-Ramos, however, was arrested on a no-bail warrant and remains in custody.

Authorities say the investigation is ongoing, and additional arrests may be forthcoming.

Law enforcement has also called on the public to provide any information that might assist in the case, urging persons to come forward with tips related to stolen cargo or suspicious activity involving freight.

The recovery marks one of the largest hauls of stolen Bitcoin mining hardware in recent memory, showing the growing intersection of digital assets and physical logistics crime.

The LAPD’s recovery of $2.7 million in stolen Bitcoin miners is just one thread in a growing web of crypto-related crime that escalated throughout 2024.

Following the July 1 arrest of Bryan Thola, 26, who was found with stolen ASIC mining equipment stashed in a Canyon Country storage facility, authorities are drawing attention to a broader pattern.

While physical thefts remain a challenge, as seen in a March case involving $6.9 million in stolen rigs, cybercriminals have become increasingly strategic, shifting their focus to digital deception.

The California Department of Justice reported dismantling 42 fraudulent crypto websites in 2024 that collectively scammed victims out of $6.5 million, with some individuals losing over $140,000 each.

These sites lured users with unrealistic promises, flashy incentives, and a lack of verifiable presence in the legitimate cryptocurrency space.

Security firms have also sounded the alarm, with Cyvers identifying “pig butchering” scams as a major threat, costing the industry over $5.5 billion last year alone.

Meanwhile, CertiK’s data shows phishing attacks drained another $1 billion across nearly 300 incidents, marking phishing as the top crypto threat of 2024.

According to Chainalysis’ 2025 Crypto Crime Report, illicit activity in the sector surged to $51 billion last year, as cybercrime syndicates adopted more advanced laundering methods using stablecoins, DeFi platforms, and AI-generated deception.

Ransomware payments declined 35% year-over-year (YoY), but analysts warn that the shift to stablecoins and privacy coins, such as Monero, indicates more sophisticated laundering tactics, not less crime.

Looking forward, the LAPD’s recovery of $2.7 million worth of Bitcoin mining equipment shows the escalating threat of organized crime targeting both physical and digital assets, emphasizing the need for law enforcement collaboration to safeguard supply chains and cryptocurrency infrastructure.

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