Breakthrough in Quantum Attack: Researcher Claims 1 Bitcoin Bounty

The perceived threat of quantum attacks to Bitcoin's security has taken a step closer to reality. Quantum security startup Project Eleven has awarded a 1 bitcoin bounty to Giancarlo Lelli for breaking a 15-bit elliptic curve key, a feat that was previously considered to be in the realm of theory. This achievement is worth approximately $78,000 and marks the largest public demonstration of its kind, posing a potential threat to the security of Bitcoin, Ethereum, and other major blockchains. Elliptic curve cryptography is the foundation of crypto wallet security, enabling wallets to prove control over funds without revealing private keys. However, quantum computers utilizing Shor's algorithm can potentially undermine this security by deriving private keys from their public counterparts. While Lelli's breakthrough is significant, it does not immediately compromise Bitcoin's security, as the cryptocurrency uses 256-bit elliptic curve security, far exceeding the 15-bit key broken by Lelli. The previous public demonstration of a quantum attack was a 6-bit break by Steve Tippeconnic in September 2025. Lelli's achievement expands on this by a factor of 512 in just seven months. The implications of this breakthrough are far-reaching, with estimates suggesting that the resource requirements for a full 256-bit attack are decreasing rapidly. Project Eleven CEO Alex Pruden notes that the barrier to running such an attack is also decreasing, making it a pressing concern for the crypto community. The concern is particularly acute for wallets with public keys already visible on-chain, 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 paths, including the implementation of quantum-safe address types. Other cryptocurrencies, such as Ethereum, Tron, StarkWare, and Ripple, have also published post-quantum transition plans. While 15 bits is still far from the 256 bits used in Bitcoin's security, this breakthrough serves as a stark reminder of the rapidly evolving landscape of quantum computing and its potential impact on the crypto world.