Update — Feb. 27, 7:35 p.m. ET: Lupita Nyong'o's Oscar dress has been located in West Hollywood.
According to TMZ, the thief returned the dress to the hotel where it was stolen. The thief then allegedly called TMZ, revealing the location of the dress and claiming the pearls on it are fake.
TMZ reported that it called police, who found the dress back in the hotel where it was stolen.
The Los Angeles County Sheriff's Department confirmed to NBC 4 that the dress has been found.