Quantum Breakthrough in Cryptography

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Researcher Claims “Largest Quantum Attack” on Elliptic Curve Cryptography

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An independent researcher, Giancarlo Lelli, has successfully derived a 15-bit elliptic curve private key using a publicly accessible quantum computer, marking what Project Eleven calls the “largest quantum attack” on elliptic curve cryptography to date. For this achievement, Lelli was awarded a 1 BTC bounty (worth over $78,000) as part of Project Eleven’s “Q-Day Prize” initiative.

Key Details:

• The Achievement: Lelli used a variant of Shor’s algorithm to solve the Elliptic Curve Discrete Logarithm Problem (ECDLP) across a search space of 32,767 possibilities — 512 times larger than the previous 6-bit record set in September 2025.
• Real-World Context: While impressive as a proof-of-concept, the 15-bit key remains far below the 256-bit elliptic curve cryptography that secures Bitcoin, Ethereum, and most blockchain wallets today.
• Expert Perspectives: Project Eleven CEO Alex Pruden argues that “the gap is increasingly viewed as an engineering problem,” citing recent research suggesting that breaking 256-bit encryption could eventually require fewer than 10,000–500,000 physical qubits. However, current quantum hardware remains far from this threshold.
• Industry Preparedness: Approximately 6.9 million BTC are held in wallets with exposed public keys, potentially vulnerable to future quantum attacks. In response, projects like Bitcoin, Ethereum, StarkWare, and Ripple have begun exploring post-quantum cryptography migration paths.

Bottom Line: This milestone underscores the growing urgency for the crypto industry to prepare for a post-quantum future — but experts caution it remains a medium-to-long-term challenge, not an immediate threat. Project Eleven, backed by Coinbase Ventures and others, continues to drive research in this space following its $20 million Series A raise earlier this year.