Satoshi Nakamoto Statue Recovered in Pieces After Lake Lugano Vandalism

A statue representing Bitcoin founder Satoshi Nakamoto was vandalised over the weekend and recovered in pieces by Swiss authorities.
Originally unveiled in 2024, the artwork symbolised decentralisation and anonymity.
Despite the vandalism, plans remain to place 21 similar statues globally.

Municipal workers in Lugano, Switzerland, have recovered the fragmented remains of a statue honouring Bitcoin founder, Satoshi Nakamoto. The artwork, designed by Italian artist Valentina Picozzi, was removed from its base and thrown into Lake Lugano by unknown perpetrators.

Related: US Lawyer’s FOI Request To Uncover “Great Mystery” of Satoshi Nakamoto’s Identity

The art collective behind the statue, Satoshi Gallery, confirmed the statue was found in several broken pieces along the lake bank, with its feet still attached to the pedestal. Authorities determined that the act appeared to be vandalism rather than theft.

Originally unveiled at Plan B’s Bitcoin Forum on 25 October 2024, the artwork was a sight-line illusion made of disappearing stripes that created an image of Nakamoto fading into code. The piece symbolised the pseudonymity of Bitcoin’s creator and was part of a broader initiative to position Lugano as a global hub for Bitcoin adoption.

The statue’s disappearance was first reported by X user Gritto on 3 August, who suspected that it had been tossed into the adjacent lake by rowdy revellers possibly celebrating Swiss National Day. Satoshi Gallery had offered a 0.1 BTC (AU$17,001) reward for its recovery. However, as the police ultimately retrieved the statue, no individual will receive the reward.

The vandalism has sparked widespread disappointment across the crypto community. Gabor Gurbacs, CEO of Pointsville, described the act as “tasteless and stupid”. Tether CEO Paolo Ardoino shared a Change.org petition supporting the statue’s restoration.

Despite the damage, Satoshi Gallery reaffirmed its commitment to placing similar installations in 21 cities worldwide.

You can steal our symbol but you will never be able to steal our souls.