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."
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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.
