Bitcoin Creator Satoshi Nakamoto Statue Recovered from Lake Lugano After Vandalism
The optical illusion artwork, which appears to fade into digital code when viewed from certain angles, was discovered on Monday, broken into several pieces both in the lake and along its banks.
The statue had been ripped from its mounting points in Parco Ciani, a popular lakefront park, by unknown vandals who then threw the remnants into the water.
Created by Italian artist and Bitcoin advocate Valentina Picozzi, the statue has become a symbol of Bitcoin's decentralized philosophy and the mystery surrounding its pseudonymous creator.
Picozzi, who has been working as an activist artist since discovering Bitcoin in 2012, operates under Satoshigallery, a copyrighted artistic project aimed at 'connecting people to Bitcoin culture through art and iconography.'
The theft was first reported Saturday by social media users who noticed the empty base where the faceless figure once sat.
Satoshigallery immediately offered a reward of 0.1 BTC, worth over $11,000, for information leading to the statue's recovery.
"You can steal our symbol, but you will never be able to steal our souls," Satoshigallery said in their response to the vandalism, declaring their commitment to install similar statues in 21 locations worldwide.
Some observers, including pseudonymous Bitcoin advocate Gritto, theorized that intoxicated revelers celebrating Swiss National Day may have been responsible for the destruction.
A Change.org petition urges city officials to restore the statue, with organizers pledging to cover the costs.
The statue, crafted from 304 stainless steel and corten blocks, was unveiled in October 2024 during the Plan B Forum, a blockchain conference co-hosted by Lugano and stablecoin issuer Tether. The artwork took 21 months to plan and construct, according to Picozzi.
The Lugano installation is part of a growing global movement to create physical tributes to Bitcoin and its mysterious founder.
Bitcoin IRL: Here Are All the Real-Life Tributes to Satoshi Nakamoto's Invention
Other notable monuments include a mirrored-face bust in Budapest's Graphisoft Park, where viewers see themselves reflected as Satoshi; a giant inflatable "Bitcoin rat" placed outside the Federal Reserve in New York City in 2018; and the world's first Bitcoin monument, erected in Slovenia in 2018.
Satoshigallery's third statue was unveiled in Tokyo in April.
With an estimated 1.096 million BTC holdings worth over $125 billion at current prices, Bitcoin's anonymous creator ranks among the world's wealthiest individuals, though those coins have never moved from their original wallets, adding to the enduring mystery.
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