The iconic statue of Bitcoin’s creator, Satoshi Nakamoto, was vandalized and recovered in pieces from Lake Lugano, sparking community outrage and calls for restoration.
Key Takeaways
- 1Satoshi Nakamoto’s statue in Lugano was vandalized and dumped into Lake Lugano.
- 2The statue was recovered in pieces by municipal workers days later.
- 3Satoshigallery offered a 0.1 BTC reward for information, valuing the statue as a cultural symbol.
- 4The crypto community condemned the act, suspecting it was linked to Swiss National Day celebrations.
What Happened?
An art installation honoring Bitcoin’s mysterious founder, Satoshi Nakamoto, was found vandalized in Lake Lugano after being reported missing from its site in Parco Ciani. The statue, recovered by municipal workers, was discovered broken in several pieces, confirming suspicions of targeted destruction rather than theft.
Iconic Bitcoin Symbol Targeted
The statue, created by Italian artist and Bitcoin advocate Valentina Picozzi, was unveiled in October 2024 as part of Plan ₿, a collaboration between the City of Lugano and Tether. Composed of layered metal sheets that create a vanishing silhouette, it represented Satoshi’s deliberate anonymity and his disappearing act from public life.
It quickly became a visual landmark and cultural emblem within the crypto community. The statue was securely welded at the feet to its base, which remained fixed even after the upper portion was forcibly removed.
When it went missing over the weekend, fears of theft arose, prompting Satoshigallery, the art collective behind the piece to launch a search effort. A 0.1 BTC reward, valued at over $11,000, was offered for any tips leading to its recovery.
Where is Satoshi?
,Satoshigallery (@satoshigallery) August 3, 2025
We are offering 0.1 btc to whoever will help us recovering the Statue of Satoshi Nakamoto that was stolen yesterday in Lugano.
You can steal our symbol but you will never be able to steal our souls.
Thank you all for the nice messages.
We are all in this… https://t.co/cAGCqg4CuP pic.twitter.com/iGrBOdVYhe
Recovery and Reactions
The broken remains were discovered on August 3 by Lugano city workers on the shore and in the waters of Lake Lugano, validating local speculation that the statue had been dumped during Swiss National Day celebrations.
A social media user named Gritto, a local from Lugano, had earlier predicted this outcome, noting that partygoers were seen drinking near the statue and suggesting it may have been tossed into the lake.
Following the recovery, a petition was launched by local citizens to relocate the statue to a more secure and visible location to prevent future incidents.
Outrage in the Crypto Community
The incident triggered a wave of anger and sadness across the Bitcoin world. Gabor Gurbacs, CEO of Pointsville, posted on social media calling the act “tasteless and stupid.” Tether CEO Paolo Ardoino responded to the recovery with a heart emoji, signaling quiet solidarity.
,Paolo Ardoino 🤖 (@paoloardoino) August 3, 2025
Satoshigallery issued a bold statement: “You can steal our symbol, but you will never be able to steal our souls.” The collective also reaffirmed its mission to place 21 statues globally, turning the damage into motivation to strengthen Bitcoin’s cultural footprint.
CoinLaw’s Takeaway
Honestly, this was more than just a prank. This was an attack on a symbol that represents decentralization, innovation, and community. Whether it was a careless act during a party or something more targeted, the crypto world felt the hit. I’m encouraged by the strong response and hope this incident speeds up efforts to protect these cultural icons. Let’s not let vandalism silence the story of Bitcoin.
