The famous Satoshi Nakamoto statue in Lugano, Switzerland has been recovered after being reported stolen over the weekend. Municipal workers found the artwork broken into pieces in Lake Lugano on Sunday.
The statue was discovered in several fragments both in the water and along the riverbank. This damage pattern suggests the incident was vandalism rather than theft for monetary gain.
Unknown individuals had removed the statue from its base in Parco Ciani, a lakefront park in the Swiss city. The artwork was only welded to the base at two points near the statue’s feet, which remained attached to the foundation.
The theft was first reported on Saturday by social media users who noticed the empty base. X user @Grittoshi initially suspected the statue had been thrown into the nearby lake.
Those are my photos.
Ockham's razor, my theory is as follow. I was in the parc on August 1st at night. It was still there. Twas Swiss National day. Many youngsters went drunk on the open aur café just besdide the statue. On their way back home they just had "fun" with the statue… pic.twitter.com/BTYWJPZ3j9— Gritto (@Grittoshi) August 3, 2025
Satoshigallery, the art collective behind the installation, quickly responded to the theft reports. They offered a reward of 0.1 BTC, valued at over $11,000, for information leading to the statue’s recovery.
The artwork was created by Italian artist and Bitcoin advocate Valentina Picozzi. She unveiled the statue in October 2024 at Plan B’s Bitcoin forum as part of Lugano’s efforts to establish itself as a global Bitcoin hub.
The Bitcoin community expressed strong reactions to the vandalism of their symbolic artwork. Many supporters voiced disgust and defiance at the attack on what has become an icon of the digital currency movement.
Gabor Gurbacs, founder and CEO of blockchain platform Pointsville, criticized the act on social media. He called the vandalism “tasteless and stupid” and expressed hope the perpetrators would be found.
Some community members speculated about the timing of the incident. Pseudonymous Bitcoin advocate Gritto theorized that drunk partygoers celebrating Swiss National Day may have been responsible for the vandalism.
Tether CEO Paolo Ardoino reacted to the statue’s recovery with a heart emoji on social media. His simple response reflected the community’s relief at finding their symbolic artwork.
The statue represents a complex artistic vision that took 21 months to plan and construct. Picozzi designed the artwork as a sight-line illusion showing Satoshi Nakamoto fading into code through disappearing stripes.
The installation was part of a broader initiative by Swiss-Tether and Lugano to brand the city as a Bitcoin destination. The statue quickly became a flagship symbol for both the local Bitcoin adoption effort and the global cryptocurrency community.
Satoshigallery remains committed to their original vision despite the vandalism. The art collective plans to install similar Satoshi Nakamoto statues in 21 locations around the world.
The group responded to the incident with defiance, stating that while symbols can be stolen, the community’s spirit cannot be taken. This message resonated with Bitcoin supporters who see the statue as representing their movement’s resilience.
The recovery comes just over a week after Satoshigallery unveiled their third Satoshi Nakamoto statue in Tokyo, Japan.
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