Breakthrough in Quantum Computing: Researcher Claims 1 Bitcoin Bounty for Record-Breaking Attack

The threat of quantum attacks on cryptocurrency has become more tangible, as a researcher has made a major breakthrough in breaking a complex encryption key. Quantum security startup Project Eleven awarded a 1 bitcoin bounty to Giancarlo Lelli for his achievement, which is valued at approximately $78,000. Lelli's feat involved breaking a 15-bit elliptic curve key on publicly accessible quantum hardware, a significant improvement over the previous record of a 6-bit key. Although this does not pose an immediate threat to bitcoin, which uses 256-bit elliptic curve security, it highlights the rapid progress being made in quantum computing and the potential risks it poses to the security of cryptocurrencies. The previous record, set by Steve Tippeconnic in September 2025 using IBM's 133-qubit quantum computer, has been surpassed by a factor of 512 in just seven months. The implications of this breakthrough are significant, with estimates suggesting that a full 256-bit attack could be achieved with fewer than 500,000 physical qubits, down from earlier estimates in the millions. As a result, the concern for wallets with publicly visible keys is growing, with approximately 6.9 million bitcoin, or one-third of the total supply, potentially vulnerable to quantum attacks. In response, bitcoin developers are proposing migration paths, including the introduction of quantum-safe address types, to mitigate the risks posed by quantum computing.