A groundbreaking discovery has linked Satoshi Nakamoto, Bitcoin‘s mysterious creator, to an early Canadian cryptocurrency exchange. Research shows that a Bitcoin address connected to Satoshi received funds from Cavirtex, a Calgary-based exchange that operated from 2011 until its acquisition by Kraken in 2016. This marks the first documented interaction between a Satoshi-controlled wallet and a centralized crypto exchange.
Researchers uncover first evidence of Bitcoin creator Satoshi Nakamoto interacting with a crypto exchange through Cavirtex, a former Canadian platform.
The address in question, known as 1PYYj, has been identified as part of Satoshi’s network of wallets. This discovery carries significant implications, as it suggests Satoshi may have engaged with regulated financial platforms. The connection to Cavirtex, which facilitated early Canadian dollar to Bitcoin trades, adds a new layer to the ongoing mystery of Bitcoin’s creator. Similar to QuadrigaCX, which processed C$7.4 million in Bitcoin trades during 2014, Cavirtex played a crucial role in Canada’s early cryptocurrency landscape. Following the genesis block mining in 2009, Bitcoin’s network quickly expanded to include various exchanges and trading platforms.
The timing of these transactions is particularly interesting, as analysis indicates Satoshi’s last known on-chain activity occurred in 2014. During their active period, 24 outbound transactions were identified from Satoshi-linked addresses, including 200 BTC sent to a Bitcoin faucet and a 500 BTC transfer to the 1PYYj address in 2010.
The Cavirtex connection has sparked speculation about potential identity information that might exist in old exchange records. When Kraken acquired Cavirtex, they also obtained client data from the exchange. This led cryptocurrency researcher Grogan to advise Kraken CEO Jesse Powell to delete any related KYC (Know Your Customer) data.
These findings have challenged existing theories about Satoshi’s identity, including the popular Len Sassaman theory. The discovered wallet activity connects to addresses holding approximately 1.096 million BTC, with the 1PYYj address linked to funding another address (12ib) containing roughly $3 billion in Bitcoin.
These revelations suggest Satoshi’s potential wealth could reach $108 billion, exceeding that of Bill Gates. As Kraken maintains a small office in Halifax following the Cavirtex acquisition, this Canadian connection continues to intrigue researchers and cryptocurrency enthusiasts alike.
