The Mystery of Satoshi Nakamoto, Bitcoin's Creator, Begins to Unravel?
For years, the true identity of Bitcoin’s creator has remained a mystery. People only know Satoshi Nakamoto, the pseudonym associated with the inventor of the cryptocurrency.
The latest report from The New York Times is beginning to unravel this puzzle, naming Adam Back as the real person behind the pseudonym Satoshi Nakamoto.
The 55-year-old man is no stranger to the technology industry. He is the CEO of Blockstream and a leading cryptographer, as well as an early figure in the Bitcoin community.
In fact, Back’s name has often been mentioned as Bitcoin’s true creator. However, he has repeatedly denied claims that he is Satoshi Nakamoto.
Carreyrou, previously known for exposing the Theranos scandal in 2015—the largest fraud case in the health technology industry involving Theranos founder Elizabeth Holmes—conducted the investigation.
In his report, Carreyrou found similarities in writing style, spelling, and grammar between Back’s writings and Satoshi’s on previous online forums.
He also claimed that the two had similar online activity times. Additionally, Back was involved in Hashcash, a “proof-of-work” system crucial for Bitcoin mining.
This one-year investigation is not the first attempt to uncover Nakamoto’s identity. Back is considered one of the most plausible candidates, alongside computer scientist Hal Finney and Nick Szabo.
The 2024 HBO documentary titled Money Electric: The Bitcoin Mystery also pointed to developer Peter Todd as Bitcoin’s creator.
“I’m not Satoshi. But I was indeed very focused from the early days on the positive societal impacts of cryptography, online privacy, and electronic money,” Back wrote via his handle @adam3us.
i’m not satoshi, but I was early in laser focus on the positive societal implications of cryptography, online privacy and electronic cash, hence my ~1992 onwards active interest in applied research on ecash, privacy tech on cypherpunks list which led to hashcash and other ideas.
— Adam Back (@adam3us) April 8, 2026
Back’s company, Blockstream, also issued a statement regarding the report.
“Today, the New York Times report is built on situational interpretations of certain details and speculation, not definitive cryptographic evidence,” Blockstream said in a statement.
“Dr. Adam Back has consistently stated that he is not Satoshi Nakamoto,” Blockstream added.
According to them, Bitcoin has operated independently for more than 10 years, and it is actually better for investors if it remains that way.