Throughout its history, the obelisk has suffered vandalism, especially politically-oriented graffiti. In the 1980s, an activist group broke in and spilled paint from the top windows, causing the city government to erect a fence around its base. This move stirred controversy, but eventually proved effective in reducing the number of defacing incidents.
For some time during the 1970s, during the Peronist government of Isabel Martínez de Perón, a ring-shaped sign was hung around the obelisk, with the motto El silencio es salud (Silence is health). Although it was allegedly geared against motorists creating excessive noise, it was widely interpreted as a statement calling Argentines to refrain from expressing their political views.
To commemorate the 30th anniversary of the "La Noche de los Lápices", the monument was converted into a giant pencil.
On 1 November 2005 it was announced that a comprehensive restoration, financed by the Argentine painting and restoration industry association (Ceprara), was finished.
The monument was painted wih 90-micrometre acrylic paint to a "Paris stone" hue, deemed more pleasant than the previously used white.
Lines Line B, Line C, and Line D of the Buenos Aires Metro have stations near the obelisk, and are connected by a number of underground passages with commercial galleries.