Researcher Claims 1 Bitcoin Bounty for Largest-Ever Quantum Attack on Cryptographic Underpinnings

The threat of quantum attacks on bitcoin's underlying technology has become more tangible. Quantum security startup Project Eleven awarded a 1 bitcoin bounty, valued at approximately $78,000, to Giancarlo Lelli for successfully breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This achievement marks a significant milestone, being 512 times larger than the previous public demonstration in September 2025. Although this breakthrough does not immediately compromise bitcoin's security, which relies on 256-bit elliptic curve cryptography, it underscores the rapid progress in quantum computing capabilities. The previous record was a 6-bit demonstration, and Lelli's result expands this by a substantial factor, indicating that quantum attacks on real-world cryptographic products are transitioning from theoretical concepts to practical experiments. The concern is particularly pronounced for wallets with publicly visible keys, with an estimated 6.9 million bitcoin at risk. In response, bitcoin developers have proposed solutions, including the introduction of quantum-safe address types, while other cryptocurrencies like Ethereum and Ripple are also exploring post-quantum transition plans.