Researcher Claims 1 Bitcoin Bounty for Achieving Largest Quantum Attack on Underlying Technology

The perceived threat of quantum attacks to Bitcoin's security has become more tangible. Quantum security startup Project Eleven recently awarded a 1 bitcoin bounty, valued at approximately $78,000, to independent researcher Giancarlo Lelli for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This achievement marks the largest public demonstration of its kind, posing a potential threat to Bitcoin, Ethereum, and other major blockchains. Elliptic curve cryptography, which enables crypto wallets to prove fund ownership without revealing private keys, is vulnerable to quantum computer attacks utilizing Shor's algorithm. Although Lelli's result does not immediately compromise Bitcoin's security, which relies on 256-bit elliptic curve security, it signifies a significant milestone in the development of quantum attacks. The previous public break, a 6-bit demonstration by Steve Tippeconnic in September 2025, has been eclipsed by Lelli's 15-bit result, representing a 512-fold increase in just seven months. As the barrier to executing such attacks continues to decrease, concerns grow for wallets with publicly visible keys, estimated to hold around 6.9 million bitcoin. In response, Bitcoin developers have proposed migration plans, including the introduction of quantum-safe address types, while other cryptocurrencies like Ethereum and Ripple have also published post-quantum transition plans.