The bike was locked to hitch mount bike rack with manufacturers supplied cable. Thieves uses a cutting devise to cut thru the cable clean apparently using a lubricant, as there was oily residue on rack and ground at the position the thieves cut the cable.
Protect your bike – get a security protection label!
Apply the protection label to your bicycle and instantly reduce the risk of theft by up to 50%! Moreover, if the bike is stolen, you increase the chance of its safe recovery by up to 70%.