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This is somewhat unconfirmed information but I became privy to it from someone I trust. He told me they don’t care about the phone itself, but its contents. After the phone is snatched they need to rush to deliver it to someone who does the cracking. They pay the snatcher some sum (I heard $100-$200) if they deliver the phone before it gets bricked and then they proceed to steal all the finances they can from it. They either buy crypto and transfer it or just send the money to a dummy bank account that they withdraw from. Another rumor I heard is that they have insiders who do the phone unlocking for them and then those phones get shipped to China where there’s a black market for western phones as they’re not locked down like the domestic versions. Again, none of this is confirmed with a verified source, but it sort of makes sense when you think about it, as even parts in modern phones are serialized, so selling phones for parts only isn’t really an option anymore.

“Parts only” you can find them all over eBay.