Missing Satoshi Nakamoto Statue Is Recovered in Lugano

The Satoshi Nakamoto statue, a unique line-of-sight illusion created by Italian artist Valentina Picozzi, was the subject of a recent theft and subsequent recovery. Located in Lugano, Switzerland, the statue, unveiled in October 2024, represents the pseudonymous creator of Bitcoin and was part of a project aimed at establishing Lugano as a global Bitcoin hub.

On August 3rd, 2025, Satoshigallery, Picozzi’s artistic project, reported the statue missing via a post on X (formerly Twitter). The post showcased an empty space where the statue, comprised of layers of disappearing stripes fading into code, had previously stood. The theft was initially reported by X user @Grittoshi, who suspected it had been thrown into a nearby lake. This suspicion proved correct.

Satoshigallery offered a reward of 0.1 BTC for information leading to the statue’s recovery. @Grittoshi’s theory, suggesting vandalism related to Swiss National Day celebrations (August 1st), appeared accurate. The abundance of city cameras seemingly ruled out unnoticed removal, indicating the statue was likely tossed into the lake.

The statue was indeed recovered from the lake, prompting images and updates from Picozzi on social media. The extent of the damage remains undetermined, but Picozzi suggested Kintsugi-style repairs, a Japanese method using precious metals to mend broken objects. A petition has been launched, requesting logistical and security support from the city of Lugano to restore the statue. Picozzi has expressed willingness to cover the costs herself.

The incident occurred just over a week after the unveiling of a third Satoshi Nakamoto statue in Tokyo, Japan, adding intrigue to the situation. The Lugano statue’s recovery marks a successful conclusion to a brief but highly publicized theft, highlighting the public’s interest in Bitcoin and its enigmatic creator. The incident also underscores the need for improved security measures to protect public art installations, especially those of significant cultural or symbolic value. The future display of the repaired statue, and implications for potential future installations in the planned 21 locations worldwide, remain to be seen.