Coinbase director Conor Grogan has sparked fresh speculation about the identity of Bitcoin’s creator, Satoshi Nakamoto.
In a detailed analysis shared on social media, Grogan suggested that crypto exchange Kraken and its co-founder, Jesse Powell, might possess information that could reveal Satoshi’s true identity.
A Possible Connection Between Satoshi and a Canadian Exchange
The claim stems from Kraken’s 2016 acquisition of Canadian exchange CaVirtEx, which may have once processed transactions linked to wallets associated with early Bitcoin mining.
Grogan’s research examined a set of Bitcoin addresses, known as the Patoshi Mining Pattern, which some believe belonged to Satoshi.
These addresses reportedly hold around 1.096 million BTC, currently valued at approximately $108 billion, making Satoshi one of the wealthiest individuals in history, at least on paper.
According to Grogan, an address linked to the Patoshi pattern (1PYYj) received Bitcoin from CaVirtEx. This could be the first documented on-chain interaction between a Satoshi-linked wallet and a CEX.
He also pointed out that this address is connected to another major Bitcoin wallet, “12ib,” which currently holds $3 billion in BTC. The discovery suggests that Satoshi—or someone closely connected—may have used CaVirtEx to move funds.
Since Kraken acquired CaVirtEx in 2016, Grogan speculates that Powell may have access to records, including any KYC data tied to these transactions. However, he advised Powell to delete any such information if it exists.
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Kraken Responds, But Doubts Remain
Kraken’s official X (Twitter) account responded to Grogan’s claims with the phrase, “We are all Satoshi,” a common slogan in the Bitcoin community. Powell himself has not made any statements regarding the matter.
Despite the intriguing findings, many crypto enthusiasts remain sceptical. Several community members pointed out that KYC regulations were far more relaxed in Bitcoin’s early days, making it unlikely that CaVirtEx retained identifying information on users. Others argued that even if Satoshi interacted with an exchange, it doesn’t necessarily mean the exchange could uncover his identity.
Additionally, Grogan acknowledged that the 500 BTC transaction to 1PYYj in 2010 could have been a payment to another individual rather than a direct transfer by Satoshi. This possibility introduces further uncertainty into the analysis.
HBO Documentary on Satoshi
Peter Todd, a Canadian developer, refuted assertions that he was the true inventor of Bitcoin, Satoshi Nakamoto. When Todd was revealed as the genuine Nakamoto in the eagerly anticipated Cullen Hoback-directed HBO documentary, the accusations that he was the real Nakamoto gained momentum.
The mystery surrounding Satoshi Nakamoto remains one of the crypto world’s most enduring questions. Over the years, numerous theories and investigations have attempted to unmask Bitcoin’s creator, but none have produced definitive proof.
While Grogan’s findings offer an intriguing new lead, they do not conclusively link Kraken to Satoshi’s identity. Unless verifiable records emerge, the true identity of Bitcoin’s creator is likely to remain a mystery.
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