Breakthrough in Quantum Attack: Researcher Claims 1 Bitcoin Bounty

A significant milestone in quantum computing has been achieved, bringing the theoretical threat to Bitcoin and other cryptocurrencies one step closer to reality. Quantum security startup Project Eleven has awarded a 1 bitcoin bounty 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 over the previous public demonstration in September 2025. Elliptic curve cryptography is a crucial component of blockchain security, enabling crypto wallets to prove control over funds without revealing private keys. However, quantum computers running Shor's algorithm pose a challenge to this assumption. Lelli's result, while not an immediate threat to Bitcoin's 256-bit security, highlights the rapidly advancing field of quantum computing and its potential implications for cryptocurrency security. The previous public break was a 6-bit demonstration, and Lelli's 15-bit result demonstrates significant progress in a short period. Theoretical estimates suggest that the resource requirements for a full 256-bit attack are decreasing rapidly, with some estimates putting the cost below 500,000 physical qubits. This development has sparked concerns about the security of wallets with public keys already visible on-chain, with approximately 6.9 million bitcoin potentially vulnerable to a quantum attack. In response, Bitcoin developers have proposed migration paths, including the introduction of quantum-safe address types, while other cryptocurrencies such as Ethereum and Ripple have also published post-quantum transition plans.