Satoshi Nakamoto statue theft and recovery in Lugano leaves community shocked

The Bitcoin community was left stunned after a life-sized statue of the cryptocurrency’s pseudonymous founder, Satoshi Nakamoto, was stolen, vandalised, and dumped in a lake in Lugano, Switzerland.

The incident occurred just one year after the statue was unveiled, marking another mysterious chapter in the ongoing legacy of Bitcoin’s creator.

The steel sculpture, created by Satoshigallery, was designed to symbolise anonymity, with a fragmented, fading effect and a hooded figure seated cross-legged.

While the statue has been recovered, it is now damaged, and questions remain over who took it, why it was targeted, and whether legal action will follow.

Statue stolen and destroyed in Lugano

On 3 August 2025, Satoshigallery announced on X that the statue had been stolen from its location in Lugano.

Only the two welded feet remained bolted to its base.

The team offered a 0.1 BTC bounty for information that could lead to its recovery.

The post read, “We are offering 0.1 BTC to whoever will help us recover the Statue of Satoshi Nakamoto that was stolen yesterday in Lugano.”

Just hours later, the creators confirmed that the statue had been found in a nearby lake.

It was no longer intact, having been broken apart, which suggested deliberate vandalism.

While the statue was retrieved, its restoration will require significant work.

Reports of drunken vandalism on Swiss National Day

The theft may have taken place during the Swiss National Day celebrations on 1 August.

X user Gritto claimed he was in the park near the statue that evening and saw a group of intoxicated individuals celebrating near an open-air café close to the installation.

According to his account, the area was crowded, and the statue was still standing at that time.

Gritto suggested that the group, possibly seeking mischief, could have dislodged the sculpture, which was attached at only two points.

Due to its weight and the security presence in the area, he speculated they may have decided to throw it into the lake rather than attempt to carry it away.

Community calls for accountability

The incident triggered an outpouring of reactions from the Bitcoin community. Morfeo, a well-known Bitcoiner, described the act as “an absolute disgrace” on X.

Former VanEck executive Gabor Gurbacs also condemned the theft and vandalism as “tasteless” and urged that those responsible be identified and prosecuted.

Tether CEO Paolo Ardoino, who had earlier called for swift action to recover the statue, posted again to celebrate its return.

While the damaged monument has been retrieved, Satoshigallery has not disclosed who was behind the act or provided details about the investigation.