Updated: 2026-05-07
- A report from Project Eleven suggests that quantum computers could crack blockchain cryptography by 2033.
- According to researchers, 6,9 million bitcoins may already be vulnerable to future quantum attacks.
В the report Project Eleven’s blockchain security report claims that quantum computing could pose a threat to major cryptocurrency networks, including Bitcoin.
According to the company’s analysts, the current blockchain cryptography used in Bitcoin is Ethereum и Solana, could become vulnerable as early as 2030-2033. Project Eleven has dubbed the potential emergence of a machine capable of breaking current encryption “quantum day” (“Q-Day”).
Researchers estimate that approximately 6,9 million bitcoins, or approximately 33% of the total supply in circulation, are already vulnerable to future quantum attacks “because the corresponding public keys have already appeared on the blockchain.” Vulnerable wallets include reused Bitcoin-addresses, old Pay-to-Public-Key outputs, Taproot outputs and addresses followedHardware wallets also do not eliminate the threat, since the attack targets the public keys in the blockchain, not the wallet device itself.
The study also found that, contrary to popular belief, multi-signature wallets will not stop attackers, as each signatory’s cryptographic key can be recovered independently.
Previously independent researcher Giancarlo Lelli used a publicly available quantum computer got A 15-bit key for an elliptic curve. Post-quantum security startup Project Eleven called it the “largest public demonstration” of cracking an ECDSA key using a quantum computer and paid Lelli a reward of nearly $78,000.
Experts didn’t notice in the selection of short keys that are incompatible with the 256-bit Bitcoin standard, the quantum component, therefore they still do not consider the threat to be real and inevitable in the near future.
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