Does Kraken know Satoshi's identity? Coinbase Exec research suggests possibilities

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Just a few months after HBO came up with Peter Todd's name as Satoshi, Coinbase's Connor Grogan dropped new findings suggesting possible links between Bitcoin creators and major crypto exchange Krakens I did.

Grogan's analysis examines a set of addresses that indicate “Patoshi Mining Pattern,” which Arkham Intelligence recently cataloged. He suggests that, although inconclusive, there is strong evidence of a connection to Sato.

I went through the wallet at Nakamoto's Cathedral. A thread of new findings that you don't think have been reported previously:

– My best guess is that Satoshi was the last active on-chain in 2014
– He may have used a Canadian BTC exchange (!)
-kraken may know Satoshi's identity pic.twitter.com/ajd2a73fm8

– Connor (@jconorgrogan) February 5th, 2025

In the context, a “patosi mining pattern” refers to a unique and identifiable pattern of early Bitcoin blockchain data that is thought to be related to Satoshi. Satoshi may have been one of the leading miners, if not the only, during this period. This pattern was first discovered and analyzed by security researcher Sergio Demian Lerner.

Analyzing mining pattern addresses, Grogan estimates that Satoshi manages approximately 1.096 million BTC, a total of over $108 billion. This would put the wealth of Atshi on paper, and the wealth of a person like Bill Gates on paper.

Grogan discovered that these addresses sent 24 Bitcoin transactions. The most common destination is an address labeled “1pyyj”. The 1pyyj address also received Bitcoin from Cavirtex, a Canadian exchange obtained by Kraken in early 2016.

Grogan speculates that Kraken co-founder Jesse Powell may have access to information about Satoshi's identity through Cavirtex's Know-Customer (KYC) records.

“My advice to him is to delete the data,” he wrote.

Kraken's X account responded to Grogan's research with the comment “We're all Satoshi,” but Powell has not yet issued a statement.

The 1pyyj address is linked to an address that starts with “12ib”, one of Bitcoin's largest active addresses, currently holding $3 billion in BTC, according to Grogan.

“This gives credit to the link that 1PY was associated with Satoshi or very early recruits/contributors,” Grogan said.

Controversial survey results

Grogan's analysis was met with skepticism. Many Crypto community members noted that it is unlikely that Kraken has a record linked to Satoshi. In the early days of crypto exchanges, KYC regulations were much stricter than they were today.

“It's unlikely that Kraken will know who is behind his wallet. Plus, we don't need KYC to send it to a wallet parked in exchange,” suggested X user.

Some noted that Bitcoin transactions can pass multiple hands. Someone may have received Bitcoin from Cavirtex and then sent it to a suspicious Satoshi controlled wallet.

“Why? [Satoshi] Do you want to send BTC from CEX to a chain-on-chain address? Wasn't he a random person? ” One user asked.

Grogan said he viewed it as positive news in response to a request not to publish research on Satoshi's identity as it could harm the industry.

“This study gives us confidence that these coins are not moving. Satoshi is no longer active,” he argued. “The movement of connected wallets until 2014 is very bullish!”

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