A man has been arrested on suspicion of theft and criminal damage after a road sign featuring work by the elusive artist Banksy was removed, the Metropolitan Police has said.
The street art - a red stop sign with three military drones on - was unveiled on the corner of Commercial Way, Peckham, south-east London, on Friday.
It was taken by a man with bolt cutters within an hour as witnesses took photos.
Police said investigations are ongoing.
The Met was called to investigate the alleged theft by Southwark Council.
Officers said the man remains in custody and a new traffic sign had been put up to avoid endangering road users.
"We are aware of footage being shared which shows the sign being removed," the force said, adding that anyone with information about the incident or the whereabouts of the sign to call police.
The sign was removed with an hour of Banksy confirming it was real by posting a photo to his Instagram account.
In a video that appeared on social media, one man, carrying a banana, held a Lime hire bike steady for another, who reached up and cut the artwork free using bolt cutters.
Wrenching it off the post, he then ran down the street and out of sight.
Banksy's Instagram followers widely interpreted his latest work as calling for a ceasefire in the Gaza Strip after he confirmed the authenticity on social media.
Similar drone art appeared at Banksy's Walled Off hotel in Bethlehem in 2017 which he said had "the worst view of any hotel in the world" - referencing Israel's controversial wall in the West Bank.
After the sign was removed, Southwark Council's deputy leader Jasmine Ali confirmed the incident had been reported to the police.
She said they had every confidence they would get it back.
"We are not just talking about a street sign here, it is a work of art which was put there for the community. "It is street art and it is for the people," she said.
Banksy has installed other pieces this year including Valentine's Day Mascara, a mural weighing 3.8 tonnes, which appeared on the side of a house in Margate, Kent, on Valentine's Day.
It depicted a 1950s housewife with a swollen eye and missing tooth, wearing an apron and yellow washing-up gloves, and throwing a man into a chest freezer.
In September it was placed in the foyer of The Art of Banksy exhibition in central London, where it can be viewed for free.
Four years ago Banksy set up a shop in Croydon featuring the stab vest he designed for Stormzy's headline act at the Glastonbury festival.
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