Lugano Recovers Vandals’ Satoshi Nakamoto Statue Amid Reward Drama

21 hours ago

Newsroom

Why was the Satoshi Nakamoto statue underwater in Lugano?

Who recovered the Satoshi Nakamoto statue, and was there a reward involved?

What does this incident reveal about public art and its vulnerability?

Lugano Recovers Vandals’ Satoshi Nakamoto Statue Amid Reward Drama — Image source: Unblock Media

Bitcoin statue recovered from Lugano lake, sparking cultural debates and restoration efforts.
Satoshigallery offering 0.1 BTC reward, amplifying global cryptocurrency community's response.

On August 3, 2025, The Block reported that authorities in Lugano, Switzerland, successfully recovered a statue honoring Bitcoin’s pseudonymous creator, Satoshi Nakamoto, after vandals threw it into a nearby lake. The act of vandalism has drawn significant attention from the global cryptocurrency community. This has led to calls for both the artwork's restoration and enhanced measures to preserve cryptocurrency-related public installations.

Italian artist Valentina Picozzi designed the statue as a figure looking into a mirror to reflect Nakamoto’s anonymity. Satoshigallery, a global project aiming to promote Bitcoin’s cultural significance, installed it in Lugano’s Parco Ciani in October 2024. This statue is one of 21 planned installations for the project. The gallery has already installed similar statues in El Salvador and Slovenia as part of the same initiative.

Following the incident, Satoshigallery announced a 0.1 BTC reward for the statue's return. The gallery also pledged to cover the costs of its restoration and safe reinstallation. However, the organization has not yet confirmed if it will distribute the reward. At the same time, a petition on Change.org amplified calls for restoration. The petition received significant support, including backing from Tether CEO Paolo Ardoino.

Lugano authorities believe a group of youths carried out the vandalism. They allegedly detached the statue from its base, where it was welded at only two points, before discarding it into the lake. Meanwhile, some community members speculated the act resulted from drunken behavior. The Bitcoin community strongly condemned the vandalism. This incident highlights the challenges of protecting public art that symbolizes Bitcoin's cultural influence.

As of August 3, 2025, 18:08 UTC, Bitcoin (BTC) is trading at $114,110.95, with a 1.24% increase in the past 24 hours, according to CoinMarketCap.