New Findings Suggest a Possible Link Between Bitcoin's Creator and Kraken

Just a few months after HBO floated Peter Todd's name as Satoshi, Coinbase's Conor Grogan has dropped new findings suggesting a possible link

Coinbase executive Conor Grogan has shared new findings that may shed light on the identity of Bitcoin creator Satoshi Nakamoto. According to Grogan's analysis, there could be a link between Satoshi and major crypto exchange Kraken.

In his analysis, Grogan examines a set of addresses that exhibit the "Patoshi Mining Pattern," recently cataloged by Arkham Intelligence. This pattern is believed to be strongly, though not definitively, linked to Satoshi, who was likely one of the primary miners, if not the sole miner, during this early period in Bitcoin's history.

“I went through Satoshi Nakamoto's wallets; thread of new findings that I don't think have been previously reported including:

-My best guess is that Satoshi was last active onchain in 2014

-He may have used a Canadian BTC exchange (!)

-Kraken may know the identity of Satoshi”

For context, the "Patoshi Mining Pattern" refers to a unique and identifiable pattern in the early Bitcoin blockchain data that is believed to be associated with Satoshi. This pattern was first discovered and analyzed by security researcher Sergio Demian Lerner.

Analyzing these mining pattern addresses, Grogan estimates that Satoshi controls around 1.096 million BTC, a sum that would be worth over $108 billion at current prices. This would place Satoshi's wealth, on paper, far beyond that of figures like Bill Gates.

Grogan found that these addresses sent out 24 Bitcoin transactions, with the most common destination being an address labeled “1PYYj.” Interestingly, the 1PYYj address also received Bitcoin from CaVirtEx, a Canadian exchange that was acquired by Kraken in early 2016.

“1PYYj also received from CaVirtEx (later acquired by Kraken) & 12ib is linked to 1PYYj (one of Bitcoin's largest active addresses; currently holding $3 billion in BTC, 12ib also received from Kraken.”

Grogan speculates that Kraken co-founder Jesse Powell might have access to information about Satoshi's identity through CaVirtEx's know-your-customer (KYC) records.

“My advice to him would be to delete the data. I'm sure he'll listen to me & we'll never hear about this again.”

Kraken's X account on Twitter responded to Grogan's research with the comment, “We are all Satoshi,” though Powell has yet to issue a statement.