Breakthrough in Quantum Attack: Researcher Claims 1 Bitcoin Bounty

The long-feared quantum attack on bitcoin's underlying technology has taken a significant step closer to reality. Quantum security startup Project Eleven has awarded a 1 bitcoin bounty, valued at approximately $78,000, to independent researcher Giancarlo Lelli for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This achievement marks a 512-fold increase from the previous public demonstration in September 2025 and is the largest public demonstration of its kind to date. The breakthrough has significant implications for the security of bitcoin, ether, and other major blockchains, which rely on elliptic curve cryptography to secure transactions. Although Lelli's achievement does not pose an immediate threat to bitcoin, which uses 256-bit elliptic curve security, it highlights the rapidly evolving landscape of quantum computing and its potential to challenge the security of cryptographic systems. The previous public break was a 6-bit demonstration, and Lelli's 15-bit result represents a substantial leap forward. Theoretical estimates suggest that the resource requirements for a full 256-bit attack are decreasing rapidly, with some estimates putting the cost below 500,000 physical qubits. The concern is particularly acute for wallets with public keys visible on-chain, which could be vulnerable to a quantum computer capable of breaking 256-bit ECC. In response, bitcoin developers have proposed migration paths, including the introduction of quantum-safe address types, and other blockchain platforms have also published post-quantum transition plans.