Paris Hilton Lost Her $2 Million, 20-Carat Engagement Ring in a Miami Night Club

Hilton's fiancé Chris Zylka and a team of security eventually found the ring in an ice bucket

Paris Hilton lost her ice in a bucket of ice.

According to Page Six, the heiress, whose been proudly wearing her $2 million, 20-carat engagement ring since fiancé Chris Zylka’s romantic New Year’s proposal in January, was reportedly dancing with friends at the RC Cola Plant night club in the hip Wynwood section of Miami Friday when her ring came loose and slipped off her finger. (In January, a source confirmed to PEOPLE that the couple hired extra security on their Aspen engagement trip to safeguard her $2 million diamond.)

Zylka was on hand to help the security team at Miami night club search the VIP area for his bride-to-be’s ring, an uneasy task as the venue is nearly 50,000-square-feet and holds up to 7,000 people, according to its website.

A panicked Hilton reportedly “waited in tears” until her needle-in-a-haystack nightmare was over. Her one-of-a-kind ring was found in an ice bucket two tables away from her VIP area. Diamond expert and celebrity jeweler Michael Greene designed the gigantic, pear-shaped sparkler Zylka proposed with during the couple’s holiday ski trip in Aspen.

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The 20-carat center stone is set on a platinum split shank halo band which boasts another two carats of smaller diamonds and is valued at close to $2 million, according to Greene.

RELATED PHOTOS: See Paris Hilton’s $2 Million Engagement Ring from Every Angle

Hilton has yet to address the ordeal, but the British deejaying trio Above & Beyond referenced her lost-and-found ring saga on Twitter, writing that they were “glad” she found her precious ring.

The jeweler behind the ring told PEOPLE that the design was inspired by a special ring Hilton’s mom, Kathy, wears.

“Paris at one point in time told Chris she really loved her mother’s pear-shaped diamond, and when Chris came to me that was his request,” Greene told PEOPLE exclusively at the time of the couple’s engagement. “The pear-shaped really jumped out for him and ultimately for her. He did some fishing, but in the end it was all him. He’s a smart guy, and hangs out a lot with the family, and I think she realized how much she liked her mom’s ring.”

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Courtesy Greene & Company

Hilton, 36, and Zylka, 32, have been dating for two years and are not shy about showing off their love for one another on social media. The Leftovers actor knew his bride-to-be so well that he kept the ring design process a complete secret.

Paris was not involved. Chris did it all,” Greene said. “He wanted to do everything so perfectly. He wants the best thing for his princess. And he did all the right things. He told me he had to set up a time to meet up with Paris’ father to ask for her hand in marriage. He did the whole thing. All the traditions.”

Hilton could not have been more blown away by her ring. She told PEOPLE of the enormous rock: “The ring was so gorgeous and sparkling. I was shaking as I put it on. It is the most beautiful ring that I have ever seen!”

Paris Hilton/Instagram

At the time of their engagement, a source confirmed to PEOPLE that the couple hired extra security to safeguard her $2 million diamond while vacationing in Aspen. Hilton has taken extra measures to protect her belongings after her home was robbed by the infamous Bling Ring, a group of eight Hollywood teens who stole valuables from A-list homes from 2008-2009.

Earlier this week Hilton told people that she’s already focused on wedding planning.

“It’s a lot of planning to do,” Hilton told PEOPLE. “Right now, we are just trying to figure out a date and a location and my dress. I definitely want it to be very magical. I love Disney princess vibes.”

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