Amanze Chinonye
German police are investigating a highly coordinated bank vault robbery in which thieves made off with tens of millions of euros in cash, gold, and other valuables after drilling into a Sparkasse savings bank during the Christmas holiday lull, in what authorities say could rank among the largest vault heists in the country’s history.
The burglary targeted a Sparkasse bank branch in the Buer district of Gelsenkirchen, in the western state of North Rhine-Westphalia, affecting about 2,700 customers, according to police and the bank. Investigators said roughly 3,000 safety deposit boxes more than 95 per cent of the bank’s inventory were broken into and emptied.
The crime was discovered in the early hours of Monday, December 29, after a fire alarm was triggered shortly before 4 a.m., prompting police officers and firefighters to respond. Although responders initially found no obvious signs of forced entry and left the premises, it later emerged that the suspects had already gained access to the vault.
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Police now confirm that the same fire alarm had been triggered on Saturday, but authorities at the time found no visible damage. Investigators believe the gang was already inside the building during that first alert and continued operating undetected throughout the long holiday weekend.
Investigators believe the suspects entered through a neighbouring underground car park, using heavy drilling equipment to bore a hole through reinforced concrete into the bank’s basement vault. Once inside, the thieves systematically forced open thousands of safety deposit boxes, likely spending hours inside the vault without interruption while the branch was closed and activity in the area was minimal.
Police spokesman Thomas Nowaczyk said authorities estimate the value of the stolen property at between €10 million and €90 million ($11.7 million to $105.7 million), depending on the contents of individual boxes. German news agency dpa reported that the theft could be one of the most significant bank heists ever recorded in Germany.
Many customers reportedly stored cash, gold, jewellery and family heirlooms in their safety deposit boxes, often as a hedge against cybercrime, financial instability, frozen accounts or mistrust of digital banking systems.
Sparkasse said each safety deposit box is insured for €10,300, unless customers arranged additional private insurance. For many victims, that coverage falls far short of their losses. Police said some boxes are believed to have contained as much as €500,000 in valuables.
On Tuesday, the bank branch remained closed as investigations continued and structural repairs were assessed. About 200 people gathered outside the building, demanding access and answers regarding their belongings.
Witnesses told investigators they saw several men carrying large bags in a nearby underground parking garage over the weekend. Security footage from the garage shows masked individuals inside a stolen vehicle in the early hours of Monday, police said.
Further CCTV footage reviewed by investigators shows a black Audi RS6 leaving the underground garage shortly after the alarm incident. The vehicle was fitted with stolen licence plates traced to another city more than 200 kilometres away, underscoring the level of planning involved. Police believe the suspects may have crossed into Belgium before the full scale of the robbery became clear.
Authorities have described the operation as “highly professional”, citing the technical skill, logistical preparation and timing of the attack. No arrests have been made, and a special investigation team has been set up to analyse forensic evidence, CCTV footage and witness accounts.
The heist has sparked broader debate in Germany over vault security practices, including the lack of detailed inventories of box contents, limited weekend monitoring, and the handling of repeated alarm triggers.
Gelsenkirchen is located about 192 kilometres northwest of Frankfurt. For now, police say the suspects remain at large and the investigation is ongoing.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
