Europol warns that future quantum computers could potentially derive private keys from exposed public keys in Bitcoin wallets. The agency clarifies that this threat targets individual holders rather than the Bitcoin network itself, as the blockchain hashing remains resistant to such attacks.
Data from Glassnode indicates that approximately 6,04 million BTC, representing 30,2% of all issued coins, are currently exposed. At a price of $83 050 per coin, this amount is valued at roughly $502 billion. These assets are primarily held in reused addresses, exchange wallets, and older script formats.
The report highlights that once a public key is revealed, it becomes permanently vulnerable to quantum decryption. Europol advises owners to transfer funds to new, secure wallets. However, implementing quantum-safe signatures poses challenges, as they are 10 to 120 times larger than current ones, which could lead to network congestion and increased transaction fees.
Estimates suggest that a full migration to quantum-safe standards would require at least 76 days of the network's total capacity, or up to 300 days if limited to a quarter of each block. While Europol notes that some developers are considering plans to freeze vulnerable coins, no specific timeline for the arrival of quantum computing threats has been established.
