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

The perceived threat of quantum attacks to Bitcoin's security has become more tangible with the recent achievement of independent researcher Giancarlo Lelli. Lelli was awarded 1 bitcoin, valued at approximately $78,000, by quantum security startup Project Eleven for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This breakthrough represents the largest public demonstration of its kind, outpacing the previous record by a factor of 512. Elliptic curve cryptography is crucial in enabling cryptocurrency wallets to verify fund ownership without exposing private keys. However, the advent of quantum computers running Shor's algorithm poses a significant challenge to this cryptographic method. Although Lelli's achievement does not immediately compromise Bitcoin's security, which relies on 256-bit elliptic curve security, it underscores the rapidly advancing capabilities of quantum attacks. The previous public demonstration, achieved by Steve Tippeconnic in September 2025 using a 6-bit key, has been eclipsed by Lelli's 15-bit result, marking a substantial leap in just seven months. The implications of this breakthrough are far-reaching, with estimates suggesting that roughly 6.9 million bitcoin, approximately one-third of the total supply, are potentially vulnerable to quantum attacks due to their public keys being visible on-chain. In response, Bitcoin developers have proposed migration plans, including the introduction of quantum-safe address types, while other cryptocurrencies like Ethereum, Tron, StarkWare, and Ripple have also outlined their post-quantum transition strategies.