Bitcoin News Today: Lugano's Satoshi Nakamoto Statue Recovered After Mysterious Lake Disposal

The iconic Satoshi Nakamoto statue in Lugano, Switzerland, has been confirmed as recovered by city municipal workers following its mysterious disappearance last week [1]. The bronze-and-metal sculpture, installed in Parco Ciani, a lakeside park, was one of the most recognizable symbols of Bitcoin culture in Europe. It was removed from its base and thrown into Lake Lugano, where it was later found in several pieces by municipal staff [1].

The vandalism, rather than a clean theft, suggests the act was deliberate and symbolic [1]. The statue, which had been only partially welded to its base at two points on the feet, was dismantled and scattered across the riverbank and water. This indicated a calculated effort to damage or obscure the artwork, rather than an attempt to sell or move it for monetary gain. The art collective responsible for the installation, Satoshigallery, had offered a 0.1 BTC reward—equivalent to over $11,000—for information leading to the recovery [1].

The statue, designed by Italian artist and Bitcoin advocate Valentina Picozzi, took over 21 months to create and was unveiled in October 2024 [1]. It had quickly become a flagship attraction in Lugano, drawing both tourists and crypto enthusiasts to the city. The theft sparked a global reaction within the Bitcoin community, with many expressing outrage and a renewed sense of solidarity [1]. Figures in the space, including Tether CEO Paolo Ardoino, publicly reacted to the recovery, with some emphasizing the symbolic nature of the attack [1].

The incident also reignited discussions around the identity of Satoshi Nakamoto and the broader significance of Bitcoin as both a financial system and a cultural phenomenon. “You can steal our symbol, but you will never be able to steal our souls,” the Satoshigallery collective stated, reaffirming their commitment to global Bitcoin advocacy through the placement of similar statues in 21 locations [1].

Lugano, which has long supported blockchain technology and crypto adoption—including allowing Bitcoin payments for public services—has now turned its focus toward restoring its reputation as a hub for digital innovation [1]. While no suspects have yet been identified, the city has pledged to work closely with law enforcement to investigate the incident and prevent further acts of vandalism [1].

Source:

[1] Cointelegraph

[2] The Arabian Post