According to reports, over $1 million worth of jewelry scheduled to be loaned to stars has been stolen from a hotel in Cannes!
French police have confirmed the expensive accessories were taken from a safe in a Novotel room belonging to an employee of Swiss jewelers Chopard, who have sponsored the event for the past 16 years.
The thieves forced the box off the wall and retreated with the pieces.
The company spokeswoman Raffaella Rossiello claims the reports are exaggerated and told the BBC that "the jewelry stolen is not part of the collection... worn by actresses during the Cannes Film Festival".
The event's top accolade designed by the Swiss company, the Palme d'Or, is still safe.