UPDATE (March 5, 10:10 a.m.)

Frances McDormand's Oscar award was the statue stolen at the Governor's Ball.

She won the Best Actress award for her role in "Three Billboards Outside Ebbing, Missouri." 

===========

An Oscar award was stolen from a winner at an after-party in Hollywood and one person has been arrested on suspicion of grand theft.

The winner noticed the Oscar was missing from a table at the Governor's Ball.

Los Angeles Police is investigating this incident.