While Bitcoin’s mysterious creator Satoshi Nakamoto has remained anonymous for over a decade, new blockchain analysis reveals a surprising connection to an early Canadian cryptocurrency exchange.
Recent findings show that a Bitcoin address linked to Satoshi received funds from Cavirtex, a Calgary-based exchange that operated from 2011 until its acquisition by Kraken in 2016.
The address in question, known as 1PYYj, represents the first documented transaction between a Satoshi-linked wallet and a centralized exchange. This discovery has sparked interest among researchers and crypto enthusiasts, as it potentially offers new clues about Bitcoin’s creator. In 2008, Satoshi laid the groundwork for cryptocurrency by publishing the groundbreaking “Bitcoin white paper”.
The unearthing of 1PYYj wallet’s link to Satoshi marks a historic breakthrough, opening fresh paths toward solving Bitcoin’s greatest mystery.
The address is connected to another wallet, 12ib, which holds approximately $3 billion worth of Bitcoin.
These transactions were part of early distribution methods used when Bitcoin had virtually no market value.
Blockchain analysis has identified 24 outbound transactions from wallets associated with Satoshi, including transfers of 200 BTC to an early Bitcoin faucet and a 500 BTC payment made in 2010.
If these wallets are indeed Satoshi’s, the unspent bitcoins within them could significantly impact market prices if ever moved.
Arkham Intelligence recently added 22,000 addresses to their database of Satoshi-linked wallets, containing a total of 1,096,354 BTC.
The Canadian connection has led to speculation about Kraken CEO Jesse Powell’s potential knowledge of Satoshi’s identity.
When Kraken acquired Cavirtex, they obtained the exchange’s technology and customer data.
Coinbase Director Conor Grogan suggests that preserved KYC (Know Your Customer) information from Cavirtex’s early years could hold valuable clues about Satoshi’s identity.
The discovery challenges previous theories about Satoshi’s identity and suggests the creator may have been active on-chain as recently as 2014.
Researchers have used the Patoshi Pattern, a method for identifying Satoshi-linked addresses, to verify these connections.
This Canadian link opens new avenues for investigating Bitcoin’s origins and adds another layer to the ongoing mystery of Satoshi Nakamoto’s identity.
The findings demonstrate how blockchain analysis continues to uncover new details about Bitcoin’s early history, even as its creator remains anonymous.
