Thieves — or where they might end up (5)

I believe the answer is:

nicks

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'thieves' is the definition.
Although both the answer and definition are verbs in their -s form, I cannot understand how they can define each other.

I don't understand the remainder of the clue.

Can you help me to learn more?

(Other definitions for nicks that I've seen before include "Prisons (sl.)" , "Small cuts" , "Pinches (slang)" , "Takes" , "US singer "Stevie"" .)

I've seen this clue in The Times.

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