Gate News message, April 24 — Giancarlo Lelli, an Italian researcher, has been awarded one Bitcoin after demonstrating the largest-scale quantum attack on elliptic curve cryptography to date. The breakthrough escalates concerns about quantum threats to Bitcoin, Ethereum, and other assets secured by elliptic curve cryptography (ECC), potentially affecting over $2.5 trillion in digital assets.
Lelli used a variant of Shor’s algorithm on cloud-accessible quantum hardware to derive private keys from public keys by targeting the Elliptic Curve Discrete Logarithm Problem (ECDLP). His achievement expanded the attack range from 6 bits (demonstrated by Steve Tippeconnic in September 2025) to 32,767 bits in just seven months—a 512-fold increase. Notably, Lelli accomplished this without special equipment, institutional funding, or illegal methods, using only hardware available to motivated researchers.
The theoretical threat timeline has also accelerated. Google’s April 2026 whitepaper estimated that a full 256-bit attack on Bitcoin would require approximately 500,000 physical qubits, down from earlier estimates of several million. A subsequent paper from Caltech and Oratomic reduced this further to as few as 10,000 qubits using neutral-atom architecture. Approximately 6.9 million Bitcoins are stored in addresses where public keys are already on-chain, including Satoshi Nakamoto’s estimated 1 million BTC, making them potentially vulnerable to such attacks.
In response, Bitcoin developers are reviewing quantum-resistant proposals including BIP-360 (introducing quantum-resistant transaction formats) and BIP-361 (phasing out older systems and freezing non-migrated tokens). Ethereum has also established a post-quantum security team to identify and replace vulnerable components. Lelli’s success demonstrates that the practical threat is advancing faster than previously predicted.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin 8-Hour Average Funding Rate Turns Negative at -0.0024%
Gate News message, April 27 — According to Coinglass data, Bitcoin's 8-hour average funding rate across major exchanges has turned negative at -0.0024%, indicating a shift toward bearish sentiment among traders.
Funding rates vary across platforms: certain major CEXs are charging 0.0003%
GateNews11m ago
Bitcoin Miners' Holdings Hit One-Month Low at 1.8M BTC as Hash Rate Declines
Gate News message, April 26 — Bitcoin miners' holdings dropped to 1,803,263 BTC (approximately $207.9 billion) as of April 25 at 2 p.m., according to CryptoQuant data. This represents a decrease of 1,248 BTC from seven days prior and marks the lowest level in approximately one month since
GateNews23m ago
UTXO Management Launches Dual-Category Digital Credit Yield Funds
UTXO Management announced the formation of the UTXO Preferred Income Strategies LP, issuing a dual-class digital credit income fund, divided into a senior income class and a total return class. The former seeks steady cash flow, monthly distributions, and enjoys priority allocations; the latter uses leverage to pursue capital appreciation. It also issued STRC preferred securities, combining fixed-income and digital asset exposure, offered only in a private placement to qualified investors.
ChainNewsAbmedia2h ago
U.S. Military Confirms Bitcoin Node Operations as Multiple Nations Adopt Crypto for Statecraft
Gate News message, April 26 — Admiral Samuel Paparo, Jr., who leads U.S. forces across the Indo-Pacific, told a Senate panel that Bitcoin matters to national security. The Pentagon is running its own Bitcoin node and conducting operational tests to secure and protect networks using the Bitcoin
GateNews5h ago
Bitcoin Funding Rate Turns Negative at -0.0031%, Major CEXs Show Mixed Rates
Gate News message, April 26 — According to Coinglass, Bitcoin's 8-hour average funding rate across the network is currently -0.0031%, indicating a bearish sentiment among traders.
Among major centralized exchanges, funding rates vary: a leading CEX shows 0.0002%, another major CEX at -0.0004%, a th
GateNews8h ago
Whale Deposits 300 BTC Worth $23.4M to CEX After 2-Year Dormancy
Gate News message, a whale has deposited 300 BTC (valued at $23.4 million) into a centralized exchange after remaining inactive for 2 years. These 300 BTC were originally withdrawn from CEX 3 years ago when BTC was priced at $19,329. The whale is currently holding an unrealized profit of $17.6 milli
GateNews10h ago
