Bitcoin News Today: Bitcoin's Satoshi Statue Recovered from Lake After Vandalism Incident

The iconic Satoshi Nakamoto statue in Lugano, Switzerland—symbolizing the global Bitcoin movement—was recovered after being vandalized and thrown into Lake Lugano on August 3, 2025. Municipal workers retrieved the statue in multiple pieces, confirming that the act was intentional vandalism rather than a theft for financial gain. The statue, which had been welded only at two points on its feet, was partially embedded in the lakebed near Parco Ciani, a popular public park where it had stood since its unveiling in October 2024 [1].

The statue, created by Italian artist and Bitcoin advocate Valentina Picozzi, was a flagship symbol for the decentralized digital currency movement. The art collective Satoshigallery, which commissioned the work, had originally planned to install 21 similar statues worldwide, each representing Bitcoin’s global reach and cultural influence [1]. The vandalism of the Lugano statue, the first in the series, has only reinforced the project’s significance, with Satoshigallery reaffirming its commitment to completing the global rollout [2].

In response to the incident, the Bitcoin community expressed widespread condemnation. Gabor Gurbacs, CEO of blockchain loyalty platform Pointsville, called the act “tasteless and stupid,” while others speculated that the perpetrators were “drunk” partygoers celebrating Swiss National Day [1]. Tether CEO Paolo Ardoino showed support with a heart emoji, and Satoshigallery posted a defiant message: “You can steal our symbol, but you will never be able to steal our souls.” [2]

To aid in the recovery, Satoshigallery offered a reward of 0.1 BTC (valued at over $11,000 at the time), which contributed to the statue’s swift return within days. The reward was described as higher than typical for art recovery, reflecting the statue’s symbolic value to the Bitcoin ecosystem [2]. The rapid municipal response and the community’s unified stance demonstrated the growing cultural and emotional weight of Bitcoin-related art and its role as a unifying force.

Despite the incident, the future of the Satoshi Nakamoto statue project remains intact. Satoshigallery has not altered its global deployment plans and continues to view the statues as cultural milestones for the Bitcoin movement. The resilience of the community and the symbolic power of the statues underscore the increasing mainstream recognition of Bitcoin as more than just a financial tool but a cultural phenomenon [1].

The vandalism and recovery of the statue also highlighted the passionate and decentralized nature of the Bitcoin community. Rather than retreating from the incident, supporters rallied around the symbol of their movement, reinforcing its importance. This event serves as a testament to Bitcoin’s growing influence and the emotional investment of its global community.

Sources:

[1] https://en.coinotag.com/bitcoin-statue-of-satoshi-nakamoto-recovered-in-switzerland-after-vandalism-incident/