Bitcoin News – A statue honoring Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was stolen from its display in Lugano, Switzerland, on August 10, 2025, sparking outrage in the crypto community. The artwork, unveiled in late 2024 as a tribute to Bitcoin’s legacy, was recovered from Lake Lugano days later, but the theft has raised questions about security and symbolism. A 0.1 BTC reward, valued at approximately $11,400 at the current price of $114,004.1, has been offered for information leading to the culprits’ identification.
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The Disappearing Statue: A Symbolic Tribute
Designed by artist Valentina Picozzi, the Satoshi Nakamoto statue in Lugano’s Piazza della Riforma was a striking installation featuring disappearing stripes that fade into code, symbolizing Nakamoto’s anonymity and Bitcoin’s decentralized ethos.
Unveiled in October 2024, it became a focal point for Bitcoin enthusiasts visiting Lugano, a city aiming to become a crypto hub. The statue’s theft, reported on August 10, 2025, shocked locals and the global BTC community, as it represented more than art—it embodied Bitcoin’s revolutionary spirit.
Recovery from Lake Lugano
On August 12, 2025, municipal workers recovered the vandalized statue from Lake Lugano, where it had been dumped after being forcibly removed. The artwork sustained minor damage, including scratches and dents, but remains largely intact.
Authorities suspect the theft was a targeted act, possibly motivated by anti-crypto sentiment or a publicity stunt. Lugano’s government, which financed the statue, condemned the act, stating, “This vandalism undermines our city’s commitment to fostering innovation.”
A petition to restore the statue has garnered over 5,000 signatures, reflecting strong community support for its reinstallation.
0.1 BTC Reward Sparks Crypto Sleuthing
In response to the theft, an anonymous Bitcoin enthusiast group announced a 0.1 BTC reward for credible information leading to the perpetrators’ arrest. At Bitcoin’s current price of $114,004.1, the reward equates to $11,400, a significant incentive in the crypto world.
The offer has triggered a wave of on-chain sleuthing, with analysts like Arkham Intelligence monitoring BTC wallets for suspicious activity. Some speculate the thieves may attempt to claim the reward themselves, creating a paradoxical hunt within the Bitcoin community.
This incident follows a recent transfer of $20,000 in BTC to a suspected Nakamoto address, highlighting ongoing fascination with the creator’s legacy.
Lugano’s Crypto Ambitions Under Scrutiny
Lugano has positioned itself as a Bitcoin-friendly city, accepting BTC for municipal services and hosting events like the Plan B Forum. The statue’s theft has cast a shadow over these ambitions, prompting calls for enhanced security at public installations.
Mayor Michele Foletti vowed to reinstall the statue with improved protections, stating, “Satoshi Nakamoto’s vision deserves to be celebrated, not desecrated.” The incident has also sparked debate about whether Bitcoin’s growing mainstream acceptance makes such symbols targets for vandalism or theft.
Community Reactions and Nakamoto’s Legacy
The theft has reignited discussions about Satoshi Nakamoto’s anonymity and influence. Posts on X reflect outrage, with users calling the act “a direct attack on Bitcoin’s principles.” Others see it as a testament to BTC’s cultural impact, noting that Nakamoto’s estimated 1 million BTC holdings, worth over $114 billion at current prices, make them a mythic figure.
The incident coincides with recent speculation about Nakamoto’s identity, including a debunked HBO documentary claiming Peter Todd as the creator and a lawsuit against the U.S. Department of Homeland Security to uncover Nakamoto’s identity. These events underscore the enduring mystery surrounding Bitcoin’s founder.
Future Implications for Bitcoin’s Public Image
The statue’s recovery offers hope, but the theft highlights challenges in Bitcoin’s public perception. As Bitcoin itself rises, its cultural symbols face scrutiny.
The reward and ongoing investigation may deter future vandalism, but they also emphasize the need for Bitcoin advocates to balance visibility with security.
With Bitcoin’s price stabilizing near $114,000, the community remains bullish, viewing the incident as a minor setback in BTC’s ascent.
The theft of the Satoshi Nakamoto statue underscores Bitcoin’s polarizing yet profound impact. As Lugano prepares to restore the monument, the 0.1 BTC reward symbolizes the community’s resolve to protect Nakamoto’s legacy, ensuring Bitcoin’s story continues to inspire.
