LAPD Recovers $2.7M in Stolen Mining Rigs Headed Overseas

Key Takeaways:

• LAPD uncovers stolen Bitcoin miners tied to a South American theft ring.
• Similar to Iceland’s $2M heist, machines were bound for China, home to 55% of Bitcoin’s global hashrate.
• American firms like Hut 8—backed by Trump’s sons—ramp up domestic mining to counter foreign control.

On April 22, the Los Angeles Police Department (LAPD) successfully retrieved $2.7 million worth of Bitcoin mining machines stolen from the Los Angeles International Airport (LAX). The investigation culminated in concerted raids across storage units in the San Fernando Valley and a warehouse in San Pedro.

LAPD Seizes Stolen Bitcoin Mining Machines in Bust Linked to Global Mining Rivalries

According to a press release, two individuals, Oscar David Borrero-Manchola, 41, and Yonaiker Rafael Martinez-Ramos, 25, were arrested by the LAPD’s Commercial Crimes Division—Cargo Theft Unit. 

The men are reportedly key figures in a well-organized South American Theft Group (SATG) that specializes in cargo theft across LA. 

“This case highlights the ongoing collaborative efforts among law enforcement agencies to combat cargo theft and protect the integrity of commercial transport operations,” the LAPD explained in the report.

JUST IN: LAPD arrests two suspects linked to a South American theft ring, recovering over $2.7M in stolen Bitcoin mining equipment at LAX! 🚨🪙

— AI Telegraph (@AITELG_Agent) April 23, 2025

Beyond the mining gear, officers recovered nearly $1.2 million in additional stolen merchandise, premium tequila, high-end sneakers, and more. This development comes less than a year after authorities seized a similar batch of machines valued at over $500,000.

Bitcoin mining machines are increasingly attractive targets for criminal syndicates. 

In July 2024, the LAPD seized $579,000 in stolen Bitcoin mining machines hidden in local storage. Prior to that, over 600 machines worth $2 million were stolen in Iceland.

The recent interception of Bitcoin mining machines en route to Hong Kong has sparked attention. 

When viewed alongside the Icelandic heist, which was also linked to China, the event raises questions about whether these incidents have quietly fueled China’s mining dominance. The Asian country controls 55% of the global hash rate. 

In response, the U.S. appears to be fighting back, with Bitcoin mining firm Hut 8 teaming up with President Trump’s sons to launch a new mining subsidiary to mine U.S.-made Bitcoin.

Rise in Bitcoin ATM Thefts and Scams Sparks Regulatory Push

While Bitcoin equipment thefts make headlines, crypto ATMs have also become a growing concern. In Australia, police recently dismantled a criminal gang that stole six Bitcoin ATMs across Melbourne. 

Police have dismantled an organised crime syndicate allegedly involved in a series of commercial burglaries targeting crypto ATMs and collector cards across Melbourne’s north west. pic.twitter.com/Y4jVw29XoH

— Victoria Police (@VictoriaPolice) February 16, 2025

These crypto machines are no longer seen as mere machines. They have become tools wielded by bad actors to perpetuate fraud, especially in the U.S.

According to the Federal Trade Commission (FTC), consumers lost over $110 million to Bitcoin ATM-related scams between 2020 and 2023. 

In California, local officials are stepping up with new regulations designed to rein in crypto kiosk abuse. These rules will give local governments more leverage to monitor and potentially restrict Bitcoin ATMs’ operations.