Breakthrough in Quantum Attack: Researcher Claims 1 Bitcoin Bounty

The specter of quantum attacks on cryptocurrency has become more tangible, as a researcher has successfully executed the largest public demonstration of its kind. Giancarlo Lelli, an independent researcher, has been 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 breakthrough has significant implications for the security of major blockchains, including Bitcoin and Ethereum. Elliptic curve cryptography, which underpins the security of crypto wallets, relies on the difficulty of deriving a private key from its public counterpart. However, quantum computers running Shor's algorithm pose a threat to this security paradigm. Lelli's achievement, while not an immediate threat to Bitcoin's 256-bit elliptic curve security, demonstrates the rapidly advancing capabilities of quantum computing. The previous public demonstration, a 6-bit break, was achieved by Steve Tippeconnic in September 2025. Lelli's 15-bit result represents a 512-fold increase in just seven months. The concern is particularly acute for wallets with publicly visible keys, estimated to hold around 6.9 million bitcoin. To mitigate this risk, developers have proposed migration paths, including the introduction of quantum-safe address types. As the quantum threat landscape continues to evolve, the cryptocurrency community is taking steps to prepare for a post-quantum future.