Quantum Breakthrough Raises New Threat to Bitcoin Security

Google Quantum AI has released new research suggesting that quantum computers might be able to break the encryption used by major blockchain networks much earlier than previously thought. This raises new questions about the long-term security of Bitcoin and other cryptocurrencies.

The study looks at elliptic curve cryptography, which protects networks like Bitcoin and Ethereum. While this type of encryption is considered nearly unbreakable for classical computers, quantum machines using Shor’s algorithm could potentially crack it in a matter of minutes.

Researchers including Justin Drake and Dan Boneh have developed new techniques that lower the resources needed for such an attack significantly. Their results indicate that fewer than 500,000 physical qubits might be enough, which is a lot less than earlier estimates near 10 million.

They described two possible attack approaches, both requiring under 1,500 logical qubits and tens of millions of operations. Google hasn’t shared all the technical details but provided a zero-knowledge proof instead. This allows experts to verify the results without revealing sensitive information. Experts like Ryan Babbush and Hartmut Neven have said this follows responsible disclosure practices.

These findings add pressure on the crypto world to get ready for quantum-resistant solutions. Right now, more than 1.7 million BTC are stored in wallets with exposed public keys, making them potentially vulnerable—and that number climbs to 2.3 million BTC when considering other wallet types. Networks like Ethereum and Solana also face similar risks through smart contracts and staking setups.

Google aims to move its own systems to post-quantum cryptography by 2029, hinting that the threat could come sooner than many expect.

Industry leaders are already responding. Haseeb Qureshi called the research very important and encouraged blockchain projects to start preparing immediately. Nic Carter described it as “sobering,” warning that quantum risks are no longer just theoretical and questioning if the crypto space can adapt quickly enough.

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