I had a 1952 David Bradley garden tractor chained together with some implements in a locked garage at my mom's old house several years ago and thieves broke the lock and cut the chain. What did they have? They had a cordless sawzall. All you can do is stop the snatch and grab thieves as this is what most thieves are. The cable is a good idea but if the thieves have the time and resources then it doesn't really matter what you do.
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