Synopsis– The city of Lugano, Switzerland, woke up to shocking news: the iconic statue of Bitcoin’s mysterious founder, Satoshi Nakamoto, had disappeared overnight. Within hours, the global crypto community was abuzz, questions swirled online, and speculation mounted. Just a day later, municipal workers pulled the missing symbol from Lake Lugano damaged, dismantled, and at the center of a storm that has left many reeling. Now, the hunt for answers intensifies.
The Disappearance and Swift Recovery
On August 2, 2025, the striking black steel statue, a hooded, faceless figure designed to fade in and out of view, was stolen from Parco Ciani, near the lakeside. The artwork, designed by Italian artist Valentina Picozzi and marking Lugano’s drive to become a global Bitcoin hub, did not last a year without controversy. All that remained at the scene were the two metal feet, still bolted to the foundation. The Satoshigallery, the team behind the statue, announced the disappearance on social media and offered a bounty of 0.1 BTC, worth over $11,000, for clues leading to its safe return.
Hours later, city workers recovered the statue in the waters of Lake Lugano. But the once-symbolic figure was now in pieces, clearly vandalized. The sight sent shockwaves through both Lugano and the broader Bitcoin community.
Was It Just a Drunken Mischief?
Although Satoshigallery kept most details private, more clues surfaced from the community. A prominent X user, Gritto, said he had seen crowds gathered for Swiss National Day celebrations near the statue on August 1. According to him, intoxicated partygoers may have targeted the sculpture in a drunken prank. Gritto described heavy activity after nightfall, especially around an open-air café by the artwork.
Investigators believe the perpetrators used tools like industrial cutters or grinders to pry the statue loose, evidence of cutting marks supported this theory. The lightweight construction, welded at just two points, may have made it easy to topple. Unable to carry the heavy statue far, the vandals likely dumped it in the lake to avoid being caught by security cameras.
The pieces were found quickly, with no reported attempt to sell or hide them. This points to senseless vandalism over profit-driven theft, something that struck a deep nerve within the city and crypto fans alike.
Bitcoin’s Community
News of the incident drew swift, passionate reactions. One well-known Bitcoiner called the damage “an absolute disgrace,” echoing the feelings of many. Former VanEck executive Gabor Gurbacs condemned the act as “tasteless,” fueling calls for a hunt to identify the culprits. On the other hand, Tether CEO Paolo Ardoino joined ongoing discussions by celebrating the quick recovery.
The Satoshigallery art collective, refusing to be discouraged, stated, “You can steal our symbol, but you will never be able to steal our souls.” Their determination to restore and expand the tribute became a rallying point online. Members highlighted plans to continue installing similar statues 21 in total across the world, with earlier editions already in Tokyo and El Salvador.
This spirit of resilience defined the community’s response. While disappointment and anger ran high, so too did solidarity. A petition quickly appeared advocating for the statue’s restoration, signaling that the movement’s resolve remains unbroken.
Debate Over Public Crypto Art Grows
With no suspects identified and a city-led investigation underway, the Satoshi statue saga raises fresh questions about the safety of public art, especially monuments tied to decentralized ideas. Some in Lugano wonder if such pieces can remain safe, while supporters counter that symbols gain greater meaning when communities rally to protect them.
The statue’s fragmented state now serves as a reminder of both vulnerability and endurance. Although the motive remains uncertain, theories of drunken revelry or opportunism persist. Regardless, the incident has cast a spotlight on Lugano’s cultural experiment and its prominent role in Bitcoin’s ongoing evolution.
For now, those two metal feet stand alone as a somber tribute where the celebrated art once captured the world’s imagination. While the city and its crypto allies seek answers, one thing is certain: the spirit embodied by the Satoshi statue will not fade quietly. The quest to restore, remember, and protect the legacy of Bitcoin’s enigmatic founder continues stronger than ever.
Written By Fazal Ul Vahab C H
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