Breakthrough in Quantum Computing: Researcher Claims 1 Bitcoin Bounty for Groundbreaking Achievement

The long-feared quantum attack on Bitcoin has taken a significant step closer to reality. Quantum security startup Project Eleven has awarded a 1 bitcoin bounty, worth approximately $78,000, to independent researcher Giancarlo Lelli for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This achievement marks a 512-fold increase from the previous public demonstration in September 2025. Although this breakthrough does not immediately threaten Bitcoin, which uses 256-bit elliptic curve security, it underscores the rapidly evolving landscape of quantum computing and its potential impact on cryptocurrency. Elliptic curve cryptography, the mathematical foundation of crypto wallets, relies on the impracticality of deriving a private key from its public counterpart. However, quantum computers, utilizing Shor's algorithm, pose a significant challenge to this assumption. Lelli's achievement demonstrates the growing capability of quantum attacks, prompting concerns about the security of wallets with publicly visible keys, estimated to hold around 6.9 million bitcoin. In response, Bitcoin developers are exploring migration paths, including the proposed BIP-360, which would introduce quantum-safe address types. As the barrier to running quantum attacks continues to drop, the need for post-quantum transition plans becomes increasingly pressing, not only for Bitcoin but also for other major blockchains like Ethereum and Ripple.