Bitcoin News Today: Iconic Satoshi Nakamoto Statue Destroyed in Lake Vandalism During Swiss National Day

The iconic bronze statue of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, was found vandalized and destroyed in Lake Lugano, Switzerland, following its theft from Parco Ciani in the city of Lugano. The artwork, unveiled in October 2024 as part of the region's efforts to position itself as a Bitcoin hub, was forcibly removed from its base and deliberately thrown into the lake during Swiss National Day festivities on August 1, 2025 [2]. Divers later recovered the fragmented sculpture, which showed extensive damage [6].

The incident has sparked outrage within the cryptocurrency community, with many viewing the act as an attack on a cultural and ideological symbol. The art collective Satoshigallery, which commissioned the statue, offered a reward of 0.1 BTC—valued at over $11,000—for information leading to the statue’s recovery. The group confirmed the statue had been retrieved, albeit in damaged condition, and expressed its ongoing commitment to the global project of installing 21 similar Satoshi statues in cities worldwide [5]. In a social media post, the group stated, “You can steal our symbol, but you will never be able to steal our souls.”

The statue, designed by Italian artist Valentina Picozzi, featured a unique visual metaphor: disappearing stripes symbolizing Satoshi Nakamoto fading into code. Its limited anchoring, which left only the feet attached to the intact base after the theft, suggested the act was not motivated by economic gain but rather by deliberate vandalism [5]. Observers have speculated that the perpetrator or perpetrators may have been intoxicated partygoers taking advantage of the heightened activity around the National Day celebrations.

The vandalism has reignited discussions about the significance of physical symbols in the context of a decentralized, digital currency. While Bitcoin itself has no tangible form, the statue represented the movement's ideals and the growing influence of cryptocurrency culture. The destruction has been interpreted as an assault not only on art but on the broader crypto ethos. Tether CEO Paolo Ardoino and others have publicly expressed their dismay, emphasizing the emotional weight of the event [5].

Despite ongoing efforts by the Lugano Plan B community to investigate the incident, the exact motive remains unclear. Gabor Gurbacs, founder of Pointsville, called the act “tasteless and stupid,” expressing hope that those responsible would be identified [5]. The community continues to rally behind the movement, with many expressing determination to move forward despite the setback.

Sources:

[1] title1.....................................(https://coincentral.com/satoshi-nakamoto-statue-recovered-after-vandalism-in-swiss-bitcoin-hub/)

[2] title2.....................................(https://www.bitrue.com/blog/satoshi-nakamoto-statue-stolen-lugano-lake)

[5] title5.....................................(https://coinstats.app/news/1edc94d80caab830413c3710fe5fa47dd2e0550565e14b9f58c19264eeba0c00_Iconic-Satoshi-Nakamoto-Statue-Recovered-After-Vandalism-in-Lugano/)

[6] title6.....................................(https://cryptohead.io/news/missing-satoshi-nakamoto-monument-recovered-in-pieces/)