Municipal workers in Lugano, Switzerland, recovered the damaged Satoshi Nakamoto statue from Lake Lugano.
The statue, dedicated to the pseudonymous Bitcoin creator, had been removed from its base in Parco Ciani and thrown into the lake by unidentified persons.
Satoshigallery, the art collective that installed the statue, confirmed the recovery. The statue was found in multiple pieces, showing clear signs of vandalism.
The feet of the statue remained welded to its base, suggesting it was forcibly detached.
A reward of 0.1 BTC, worth over $11,000, was offered by Satoshigallery for its recovery. Cointelegraph reached out to the collective for comment, but no response was received at the time of publication.
Statue Damaged and Retrieved from Lake Lugano
Photos shared by Gritto, a pseudonymous Bitcoin advocate, showed fragments of the Satoshi Nakamoto statue in and around Lake Lugano.
Municipal workers retrieved the pieces from the lake and the riverbank, confirming the extent of the vandalism.
The statue, created by Italian artist Valentina Picozzi, was unveiled in October 2024. It took 21 months to plan and build, becoming a prominent feature in Parco Ciani, a public park by Lake Lugano.
The statue was welded to its base at two points on its feet, making it vulnerable to being detached.
Satoshigallery described the work as a “disappearing” statue, symbolizing the anonymous identity of Satoshi Nakamoto.
Despite the damage, the collective reaffirmed its dedication to placing similar statues in 21 locations globally, a number reflecting Bitcoin’s fixed supply limit of 21 million coins.
Bitcoin Community Reacts to Vandalism in Lugano
The vandalism of the Satoshi Nakamoto statue prompted reactions from Bitcoin advocates. Gabor Gurbacs, founder and CEO of Pointsville, posted on X:
“Such a tasteless and stupid thing to do. Hope they find who did it.”
Gritto suggested on X that “drunk” partygoers celebrating Swiss National Day may have been involved. Images he posted showed parts of the statue submerged in Lake Lugano.
Tether CEO Paolo Ardoino acknowledged the recovery of the statue with a heart emoji on social media. Satoshigallery stated on its platform:
“You can steal our symbol, but you will never be able to steal our souls.”
Satoshi Nakamoto Statue and Bitcoin Adoption in Lugano
The Satoshi Nakamoto statue has been a significant landmark since its unveiling. Located in Parco Ciani near Lake Lugano, it became closely tied to Bitcoin adoption efforts in the city.
The city of Lugano has actively supported cryptocurrency initiatives, making the statue a key point of interest for the Bitcoin community.
Its damage and recovery highlighted its symbolic connection to Bitcoin adoption, Satoshi Nakamoto, and Switzerland’s role in the digital currency space.
Images shared by Satoshigallery and Gritto displayed the statue’s condition after recovery.
The visuals documented the work of Lugano municipal workers in retrieving the statue from the lake and surrounding areas.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: August 4, 2025 • 🕓 Last updated: August 4, 2025
