Breakthrough in Quantum Attack: Researcher Claims 1 Bitcoin Bounty

The threat of quantum attacks on cryptocurrency has become more tangible with a recent breakthrough by independent researcher Giancarlo Lelli. Lelli successfully broke a 15-bit elliptic curve key on publicly accessible quantum hardware, earning a 1 bitcoin bounty from quantum security startup Project Eleven. This achievement marks a 512-fold increase over the previous public demonstration in September 2025 and has significant implications for the security of cryptocurrencies like Bitcoin and Ethereum. Although Bitcoin currently uses 256-bit elliptic curve security, this development underscores the need for vigilance and the exploration of quantum-safe solutions. The bounty, valued at approximately $78,000, highlights the growing interest in quantum computing and its potential to compromise cryptographic security. Elliptic curve cryptography, which enables crypto wallets to prove fund control without revealing private keys, is vulnerable to quantum attacks using Shor's algorithm. While Lelli's result does not immediately threaten Bitcoin, it demonstrates the rapid progress in quantum computing capabilities and the importance of developing post-quantum transition plans. Project Eleven's CEO, Alex Pruden, notes that the resource requirements for such attacks are decreasing, making it more feasible for independent researchers to contribute to this field. The concern is particularly acute for wallets with publicly visible keys, with an estimated 6.9 million Bitcoin at risk. In response, developers are exploring migration paths, including the proposed BIP-360, which would introduce quantum-safe address types. As the quantum computing landscape continues to evolve, the cryptocurrency community must remain proactive in addressing these emerging security challenges.