Previously undocumented transactions tied to Bitcoin’s foundational days could mean that Bitcoin creator Satoshi Nakamoto was last active on-chain nearly ten years ago.
This insight was shared by Coinbase Director Conor Grogan, whose findings raise questions about early crypto movements and their implications for the identity of the world’s most famous anonymous figure.
Exploring Satoshi’s Wallets
Grogan’s research suggests that Satoshi’s last known on-chain activity occurred in 2014. He asserted that Satoshi may have utilized Cavirtex, a Canadian Bitcoin exchange. It is important to note that Cavirtex was acquired by Kraken in 2016, implying that the crypto exchange might possess information regarding Satoshi’s identity, contingent upon any retained Know Your Customer (KYC) data.
Grogan referenced the Patoshi mining pattern – a series of addresses believed to be linked to Satoshi – which has been recently cataloged by Arkham Intelligence.
While definitive attribution remains elusive, evidence indicates that these addresses collectively hold approximately 1.096 million BTC, currently worth around $108 billion. This valuation would position Satoshi Nakamoto among the world’s wealthiest individuals, even surpassing figures like Microsoft’s Bill Gates.
The analysis identified 24 outbound transactions from these addresses, with the most frequent recipient being the address 1PYYj. Remarkably, this address received Bitcoin from Cavirtex, suggesting the first documented on-chain interaction between a Satoshi-linked wallet and a centralized exchange.
Further, 1PYYj is associated with funding the address 12ib, one of the largest active Bitcoin addresses, currently holding approximately $3 billion in BTC.
Kraken Connection
Grogan has advised Kraken’s former exec, Jesse Powell, to consider deleting any KYC data related to these transactions to protect Satoshi’s anonymity. He also noted that these Satoshi-linked addresses sent 200 BTC to the Bitcoin faucet across two transactions.
Historically, users could complete a CAPTCHA to receive 5 BTC for free from such faucets.
This research provides new evidence that may challenge previous assumptions about Satoshi’s identity and activities. Grogan acknowledges the possibility that the 500 BTC sent to 1PYYj in 2010 could have been a transaction to another party, potentially representing a new documented instance of a payment from Satoshi.
Bitcoin’s Biggest Mystery
Last year, Len Sassaman, a renowned cryptographer and privacy advocate, was speculated as a potential candidate for the true identity of Satoshi Nakamoto. Sassaman was deeply involved in the cypherpunk movement and contributed to cryptographic advancements, including digital signature protocols.
His connections with key Bitcoin-related figures, such as Hal Finney and Philip Zimmermann, further fueled speculation. However, there is no direct cryptographic evidence linking him to Satoshi. Additionally, Sassaman’s tragic death in 2011 and Nakamoto’s final email announcing his departure from Bitcoin have sparked theories, but there was no definitive proof.
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