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

The threat of quantum attacks on Bitcoin's security has become more tangible. Quantum security startup Project Eleven 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 represents the largest public demonstration of its kind, posing a potential threat to the security of major blockchains, including Bitcoin and Ethereum. Elliptic curve cryptography is a crucial component of cryptocurrency wallets, enabling them to prove control over funds without revealing private keys. However, quantum computers utilizing Shor's algorithm can potentially compromise this security by deriving private keys from public ones. Lelli's breakthrough, although significant, does not immediately jeopardize Bitcoin's security, as it uses 256-bit elliptic curve security, far more complex than the 15-bit key broken by Lelli. The achievement highlights the rapid progress in quantum attacks, with the previous public demonstration being a 6-bit break in September 2025. The concern for Bitcoin's security is growing, with an estimated 6.9 million bitcoins, approximately one-third of the total supply, potentially vulnerable to quantum attacks due to their public keys being visible on-chain. In response, Bitcoin developers are exploring migration paths, including the proposed BIP-360, which aims to introduce quantum-safe address types.