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Missing Satoshi Nakamoto Statue Is Recovered in Lugano
The layers of disappearing stripes creating the illusion of Satoshi, the pseudonymous creator of Bitcoin, that fade into code when viewed head-on had stood on the site since late 2024.
Updated Aug 5, 2025, 1:27 p.m. Published Aug 4, 2025, 4:38 p.m.
What to know:
- The Satoshi Nakamoto statue in Lugano, created by artist Valentina Picozzi and reported missing on Sunday, was recovered from a nearby lake.
- The statue, unveiled in 2024, was part of Lugano's effort to become a global bitcoin hub.
- Satoshigallery had offered a reward of 0.1 BTC for information leading to the statue's recovery.
The famous Satoshi Nakamoto statue, an ingenious line-of-sight illusion envisioned by Italian artist Valentina Picozzi, that was reported missing on Sunday was recovered from a nearby lake, Satoshigallery, the artistic project run by Picozzi, said in a post on X.
The gallery reported the statue missing on Aug. 3 with a photo showing only empty ground where the layers of disappearing stripes that fade into code had stood since late 2024. The statue representing the pseudonymous creator of Bitcoin was unveiled on Oct. 25, 2024 at Plan B’s Bitcoin forum as Swiss‑Tether and Lugano raced to brand the city a global bitcoin hub.
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The theft was first reported by X user @Grittoshi, who suspected it had been thrown in a lake beside the sculpture. Satoshigallery offered a reward of 0.1 BTC to anyone who could help find the statue.
“We are offering 0.1 btc to whoever will help us recovering the Statue of Satoshi Nakamoto that was stolen yesterday in Lugano,” the X post said. “You can steal our symbol but you will never be able to steal our souls. We are all in this together and committed to place the statue in 21 places round the world.”
Grittoshi had suggested the theft was an act of vandalism resulting from celebrations related to Swiss National day, which falls on Aug. 1.
“There are cameras everywhere in the city so i assume, they just threw it inside the lake beside, before going home. No way, they could have carried it unnoticed in the city.” Grittoshi wrote shortly before the statue was indeed found in the lake.
What damage the statue has taken hasn’t yet been determined.
Picozzi shared images on social media of the statue being recovered, and suggested Kintsugi-style repairs may be in order. Kintsugi is the Japanese art of repairing broken items with specific coating mixed with powered precious metals such as gold, silver or platinum.
A petition asking the city of Lugano for “logistical and security support” to restore the statue has been launched. Picozzi has offered to do things at her own expense, the petition said.
The theft occurred just over a week after Satoshi Gallery unveiled its third Satoshi Nakamoto statue in Tokyo, Japan.
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