“We’re on your trail,” Sheriff Ted Paxton of Forsyth County, Ga., said into a television camera.

He was addressing himself Wednesday to what he believes is a gang of thieves who drilled into a jewelry store Sunday from an adjacent store, drilled into a steel safe and left  with what one report says was more than $2.8 million in diamonds, gold, silver, precious stones along with Japanes and Swiss watches. It is believed to be one of the biggest heists ever in Georgia.

“Keep your eyes open and keep looking over your shoulder because we’re coming,” Paxton told the thieves.

The sheriff told a news conference Wednesday that two suspects were already in custody. They were identified as Kenardis Demaine Holloway, 32, and Carl Henry Bowser, III, 26. They were arrested in connection with the burglary of  Milano Fine Jewelry.

The police department is searching for other suspects. “We have strong physical evidence to lead us to to feel confident there were more than these two individuals involved,”  Paxton said.

The value of the missing bling is still unclear, according to the store’s owner. ”They are still looking at the numbers,” co-founder Ibrahim Ehican told ABCNews.  The four-year-old family jewelry store had customer goods, store goods, and vendor goods locked up inside.

“It’s shocking,”  Ehican said.  “You pay attention to every little detail, and you try to secure everything and this happens.”

“You would expect nothing like this would happen. [You believe] they wouldn’t be able to manage to get into the safe, but they compromised that. And it’s shocking,” said Ehican.

In addition to cutting through the concrete wall to bypass the alarm system, the thieves also managed to cut through one of the steel and concrete safes, he said.

“I don’t know how long they were here, but it looks like they were here a whole day or so on Sunday,” said Ehican.  It’s the only day of the week the store is close.

The recent arrests come despite the best effort by thieves to clean up the crime scene by taking the hard drive from the in-store surveillance recorders.