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

The threat of quantum attacks on bitcoin has become more tangible as an independent researcher, Giancarlo Lelli, broke a 15-bit elliptic curve key on publicly accessible quantum hardware. This achievement earned him a 1 bitcoin prize, worth approximately $78,000, from quantum security startup Project Eleven. The demonstration is the largest public display of its kind, with a 512-fold increase from the previous public demonstration in September 2025. Elliptic curve cryptography is a crucial component of cryptocurrency wallets, enabling them to prove control over funds without revealing private keys. However, quantum computers using Shor's algorithm can potentially compromise this security. Lelli's result, although significant, does not pose an immediate threat to bitcoin, as it uses 256-bit elliptic curve security. The achievement highlights the rapid progress in quantum attacks, with theoretical resource estimates decreasing dramatically. Project Eleven CEO Alex Pruden noted that the resource requirements for such attacks continue to drop, making them more feasible. The concern is particularly relevant for wallets with publicly visible keys, with approximately 6.9 million bitcoin, or one-third of the total supply, potentially vulnerable to quantum attacks. In response, bitcoin developers have proposed migration plans, including the introduction of quantum-safe address types.