Drill used to break into German bank vault, tens of millions stolen

Thieves made off with valuables worth tens of millions of euros after breaking into a bank vault in Germany during the holiday period, according to police.

The burglary happened at a Sparkasse bank branch in the city of Gelsenkirchen, where criminals drilled through a wall to reach the vault and forced open thousands of safety deposit boxes.

Police and bank officials said that around 2,700 customers were affected, with nearly 3,000 boxes — more than 95 per cent of those stored at the branch — broken into.

Police spokesman Thomas Nowaczyk said that investigators were still trying to determine the full scale of the loss but estimated it could be enormous. “Investigators believe the theft was worth between 10 million and 90 million euros,” he said.

German media reported that the incident could turn out to be one of the largest bank vault thefts in the country.

The bank remained closed on Tuesday as investigations continued. Local media said about 200 customers gathered outside the branch, hoping to enter and learn the fate of their belongings.

Sparkasse said each safety deposit box is insured for up to 10,300 euros, unless customers had taken out additional private insurance.

Police said a fire alarm alerted officers and firefighters shortly before 4am on Monday. When they arrived, they found a hole in the wall and the vault in disarray. Investigators believe the suspects used a large drill to break in and escape before anyone could stop them.