- Blockchain evidence suggests a Satoshi-linked wallet interacted with a now-defunct exchange acquired by Kraken in 2016.
- Coinbase’s Conor Grogan believes Kraken’s CEO Jesse Powell may hold key KYC records that could reveal Bitcoin’s mysterious creator.
- Kraken’s cryptic response—“We are all Satoshi”—only fuels speculation about whether they know more than they’re letting on.
- Satoshi Nakamoto’s Bitcoin holdings are now worth over $107 billion, making him richer than Bill Gates—on paper.
For years, the true identity of Satoshi Nakamoto, the creator of Bitcoin, has been one of the greatest mysteries in tech. Now, a new theory is emerging, and it points to crypto exchange Kraken as a potential missing link.
Coinbase director Conor Grogan recently suggested that Kraken and its CEO Jesse Powell might have access to KYC data that could help unmask Bitcoin’s elusive founder.
His claim follows an investigation by Arkham Intelligence, which has been tracking Satoshi’s massive Bitcoin holdings, now valued at a staggering $107 billion.
Blockchain Clues Link Satoshi to Kraken-Acquired Exchange
Arkham Intelligence estimates that Satoshi mined 1,096,354 BTC in Bitcoin’s earliest days. These coins are spread across 22,000 different wallets, including addresses where Satoshi is known to have spent BTC.
UPDATE: $100 BILLION IN SATOSHI NAKAMOTO’S HOLDINGS NOW ON ARKHAM
— Arkham (@arkham) February 4, 2025
We’ve added an additional 22,000 Satoshi addresses with a total BTC balance of 1,096,354 to the Satoshi Nakamoto entity on Arkham.
These are derived from a known mining pattern referred to as the Patoshi Pattern,… pic.twitter.com/Fe6nlJ07au
Using what’s known as the Patoshi Pattern—a mining signature believed to belong to Bitcoin’s creator—Grogan found something unusual:
A Satoshi-associated wallet had sent Bitcoin to a centralized exchange—something Satoshi, known for his obsession with privacy, was always careful to avoid.
The exchange in question? Cavirtex, a Canadian platform that Kraken later acquired in 2016.
Grogan identified 24 transactions coming from Satoshi-linked wallets, with one of the most notable deposits landing in a Cavirtex wallet labeled 1PYYj.
This discovery raises big questions:
- If Satoshi used Cavirtex, did he complete KYC verification?
- Does Kraken still have records from this acquisition?
- Could Jesse Powell, Kraken’s CEO, have insight into Satoshi’s identity?
“My advice to him would be to delete the data,” Grogan joked in a post on X (formerly Twitter).
CaVirtEx was purchased by Kraken in 2016. As such. there is a chance that @jespow has information on the true identity behind Satoshi, if they maintained any KYC information on this wallet. My advice to him would be to delete the data pic.twitter.com/RbeOVGdmz8
— Conor (@jconorgrogan) February 5, 2025
Kraken’s Mysterious Response: “We Are All Satoshi”
When confronted with these findings, Kraken’s official X account responded with a simple but mysterious message:
“We are all Satoshi.”
We are all Satoshi 💜
— Kraken Exchange (@krakenfx) February 5, 2025
While this doesn’t confirm anything, it has only fueled speculation that Kraken may know more than they’re willing to reveal.
Adding another layer to the mystery, Grogan noted that the wallet receiving funds from Satoshi’s address—1PYYj—was linked to another address currently holding over $3 billion in BTC.
This has led to speculation that Satoshi might have transferred part of his fortune, or that someone close to Bitcoin’s early development had access to his funds.
The Search for Satoshi: Past Contenders and Failed Claims
Over the years, several people have claimed to be Satoshi Nakamoto, but none have provided concrete proof.
- Craig Wright, an Australian computer scientist, famously claimed he was Bitcoin’s creator, but courts dismissed his case due to lack of evidence.
- Peter Todd, a well-known Bitcoin developer, was accused in an HBO documentary, but he firmly denied the claims.
- In October 2024, a man named Stephen Mollah held a press conference in London, claiming he was the real Satoshi. His claim was widely mocked.
Are We Closer to the Truth?
While Kraken’s “We are all Satoshi” comment might just be a clever way to dodge questions, the blockchain evidence found by Grogan suggests there may be more to the story.
We are all Satoshi 💜
— Kraken Exchange (@krakenfx) February 5, 2025
For now, Satoshi Nakamoto remains an enigma, but with blockchain forensics improving, it may only be a matter of time before the world finally learns the truth.
Until then, the mystery continues.
