London police arrest two suspects who allegedly stole Banksy's latest artwork, a stop sign featuring three drones

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London police have arrested two men accused of stealing Banksy's latest work, less than an hour after confirming the artwork on Friday.

According to the Associated Press, Banksy's piece consisted of three military drones placed on a red stop sign and was located in the Peckham district of south London.

The sign was taken in the middle of the day by a man with bold knives while witnesses took photos and videos of the robbery.

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After Banksy posted an image of the sign on Instagram, some people predicted it wouldn't last long, as some of his works have sold for tens of millions of dollars.

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A bystander who wanted to be identified only as Alex told the Associated Press he looked at the stop sign before something happened to him. He, along with many onlookers, watched as a man in a red and black jacket climbed onto a bicycle next to the locked sign and began hitting it with his hands.

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“We said, 'What are you doing?' But no one really knew what to do, we just watched it happen,” Alex told the AP. “We were all a bit confused; there were a few car horns.”

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A person removes a Banksy artwork depicting three drones on a traffic stop sign unveiled on Friday at the junction of Southampton Way and Commercial Way in Peckham, southeast London. (Aaron Chown/PA via AP)

The man left and returned a few minutes later with a pair of bolt cutters. Another man reportedly stabilized a rental bike he was standing on before taking it off and fleeing.

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A person removes a Banksy artwork depicting three drones on a traffic stop sign unveiled on Friday at the junction of Southampton Way and Commercial Way in Peckham, southeast London. (Aaron Chown/PA via AP)

On Saturday, London police arrested a man in his 20s on suspicion of theft and criminal damage, who was later released on bail.

On Sunday, a second suspect, this time a man in his 40s, was taken into custody on charges of theft and criminal damage.

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Banksy is known for his thought-provoking street art and often makes political statements through his work. Many of his Instagram followers interpreted his latest work as a call for a ceasefire in the Gaza Strip.

The Associated Press contributed to this report.