In the first six months of the pandemic, bike theft jumped by nearly one-third in New York City, In Portland, Oregon, thefts rose 20 percent. It turns out they were getting exported to Mexico.

On a stormy night over Super Bowl weekend 2019, thieves pulled up behind a warehouse in Paso Robles, Cambria Bicycle Outfitters, a longtime bike seller. 

The thieves cut a hole in the warehouse’s wall, and made off with roughly 90 bicycles worth nearly $500,000. 

Several weeks later thieves stole two bikes worth about $10,000 from Cambria’s nearby showroom. The thefts had been so damaging that Cambria lost its insurance carrier over the claim, then ended up paying more than double for a new policy. 

They ended up in Mexico, and from late 2020 to June 2024, the estimate is about 650 stolen bikes sold for about $2.1 million.

https://www.wired.com/story/silicon-valleys-fanciest-stolen-bikes-trafficked-mastermind-jalisco-mexico/