It was stolen by a staffer at the museum. In short:
After the bracelet was stolen, forensic archaeologist Christos Tsirogiannis spoke with CNN’s Lianne Kolirin about what could happen to it. He explained that it could be smuggled out of the country and end up at an auction house with “forged provenance.” It could also be sold to a private collector or melted down for gold. While melting down the artifact would be less profitable, it would also make the crime more difficult to trace, Tsirogiannis said.
On September 18, Egypt’s Interior Ministry announced the investigation’s results, reports Reuters’ Mohamed Ezz. The ministry found that the artifact had passed from a museum restoration specialist to a silver trader to the owner of a jewelry workshop. The workshop owner sold it to a gold smelter, who melted it down. Four suspects have been arrested.
"The stolen bracelet was “not the most beautiful,” Olette-Pelletier tells AFP. “But scientifically, it’s one of the most interesting.”"