Breakthrough in Quantum Attack: Researcher Claims 1 Bitcoin Bounty

The threat of quantum attacks on cryptographic systems has become more pressing, as evidenced by a recent breakthrough achieved by independent researcher Giancarlo Lelli. Lelli was awarded a 1 bitcoin bounty by quantum security startup Project Eleven for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This feat is significant, as it demonstrates a 512-fold increase in the scale of quantum attacks compared to the previous public demonstration in September 2025. Elliptic curve cryptography is a crucial component of cryptocurrency wallets, as it enables them to prove control over funds without revealing the private key. However, quantum computers running Shor's algorithm can potentially compromise this security by deriving the private key from its public counterpart. Although Lelli's achievement does not pose an immediate threat to bitcoin, which uses 256-bit elliptic curve security, it highlights the need for the development of quantum-resistant cryptographic systems. The barrier to launching such attacks is decreasing, with theoretical resource estimates suggesting that a full 256-bit attack may be possible with fewer than 500,000 physical qubits. As a result, cryptocurrency developers are exploring migration paths to quantum-safe address types, such as BIP-360, to mitigate the risk of quantum attacks.