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

The theoretical threat of quantum attacks on bitcoin has become more tangible, following the achievement of independent researcher Giancarlo Lelli, who was awarded a 1 bitcoin prize by quantum security startup Project Eleven. Lelli broke a 15-bit elliptic curve key on publicly accessible quantum hardware, a feat that is 512 times larger than the previous public demonstration in September 2025. This breakthrough has significant implications for the security of bitcoin and other cryptocurrencies, as it demonstrates the growing capabilities of quantum computers. Elliptic curve cryptography, which is used to secure crypto wallets, relies on the difficulty of deriving a private key from a public key. However, quantum computers running Shor's algorithm can potentially break this security. While Lelli's result is notable, it is essential to note that bitcoin uses 256-bit elliptic curve security, making it still theoretically secure. The prize awarded to Lelli was designed to test the feasibility of quantum attacks on real-world cryptography-based products. The previous public break was a 6-bit demonstration, and Lelli's 15-bit result marks a significant increase in the power of quantum attacks. Theoretical estimates suggest that the resource requirements for a full 256-bit attack are decreasing rapidly, with some estimates putting the cost below 500,000 physical qubits. This has significant implications for the security of cryptocurrencies, particularly for wallets with public keys that are already visible on-chain. Developers are working on migration paths, including the proposal of quantum-safe address types, to mitigate the risks associated with quantum attacks.