Grove Gallery CEO James Ryan expressed gratitude to the Flying Squad for their swift response, describing the theft as devastating.

Recently, Banksy has captured public attention with a series of animal-themed spray graffiti across London, which has led to some of these works being stolen or relocated for safety.

Following the theft, the gallery is considering implementing full security measures to protect its remaining artworks.

Banksy's 'Girl with Balloon' is one of his most iconic pieces, previously making headlines when it partially shredded itself after selling for over £1 million at auction.

Historically, stolen artworks often see a significant increase in value upon recovery, leading to speculation that this incident may enhance the value of 'Girl with Balloon'.

This summer, new Banksy stencils emerged in London, but many were quickly removed after their authenticity was confirmed.

The theft of Banksy's works is not new; last month, a piece known as Peckham Wolf was stolen, and a £500,000 artwork was removed the previous year.

On September 8, 2023, a burglary occurred at the Grove Gallery in central London, where the only item stolen was Banksy's 'Girl with Balloon'.

Surveillance footage revealed a masked man breaking a glass door to steal the artwork, which is valued at approximately £270,000 (around $355,000).

Despite his anonymity, Banksy remains one of the most expensive contemporary artists, with a career that began in Bristol, England.

Fortunately, the stolen 'Girl with Balloon' has since been recovered by the Metropolitan Police and will be returned to the gallery.

Two suspects, aged 47 and 53, have been charged with theft and are scheduled to appear in court on October 9.