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

A significant breakthrough has been made in the realm of quantum attacks, with independent researcher Giancarlo Lelli being awarded 1 bitcoin for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This achievement marks a substantial leap from the previous public demonstration in September 2025, which was 512 times smaller. The prize, worth approximately $78,000, was awarded by quantum security startup Project Eleven. Lelli's feat, although not a direct threat to bitcoin, highlights the potential risks associated with quantum attacks on elliptic curve cryptography, which is used to secure funds in crypto wallets. Elliptic curve cryptography relies on the difficulty of deriving a private key from its public counterpart, but quantum computers running Shor's algorithm can potentially compromise this security. While bitcoin's 256-bit elliptic curve security is still far from being breached, Lelli's result demonstrates the rapid progress being made in quantum attacks. The previous public break was a 6-bit demonstration, and Lelli's 15-bit result represents a significant expansion. Theoretical estimates suggest that the resource requirements for a full 256-bit attack are decreasing rapidly, with a recent Google Research paper estimating the cost to be below 500,000 physical qubits. Project Eleven CEO Alex Pruden noted that the winning submission came from an independent researcher using cloud-accessible hardware, highlighting the increasing accessibility of quantum computing. The concern is particularly pressing for wallets with publicly visible keys, which could be vulnerable to quantum attacks. Approximately 6.9 million bitcoin, or one-third of the total supply, are stored in such addresses. To mitigate this risk, bitcoin developers have proposed migration paths, including the addition of quantum-safe address types. Other blockchain platforms, such as Ethereum, Tron, StarkWare, and Ripple, have also published post-quantum transition plans.