The diamond was discovered in the Mbuji-Mayi district of Zaire (Democratic Republic of the Congo) in 1990 in alluvial deposits; uncut, it was 777 carats (155.4 g).
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There was an attempt on 7 November 2000 to steal the collection (see Millennium Dome raid), but the Metropolitan Police discovered the plot and arrested the robbers before their escape.
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The Ocean Dream was displayed as part of the Smithsonian's "The Splendor of Diamonds" exhibit, alongside the De Beers Millennium Star, The Heart of Eternity and the Moussaieff Red.