Bitcoin Exposure to Quantum Risk Varies Across Exchanges

A recent study by Glassnode has shed light on the extent of Bitcoin's exposure to quantum computing risk. The study analyzed the exposure to quantum risk on various exchanges, including Binance, Bitfinex, Crypto.com, Gemini, and Coinbase.

The findings show that up to 85% of Bitcoin held in Binance accounts is exposed to the risk. This is not surprising, given the exchange's large user base and complex transaction flow. However, other exchanges also have significant exposure, with some notable differences between them.

According to the study, Bitfinex, Crypto.com, Gemini, and Coincheck have 100% of their salds exposed, while Coinbase has only 5%. The study highlights that the risk is not evenly distributed among custodians and depends on their management practices. For instance, exchanges that reuse addresses or implement partial spending models are more likely to expose their users' private keys.

The Glassnode study estimates that around 1.66 million BTC (8.3% of the total supply) linked to exchanges are at risk due to exposure. This is a significant number, considering that these coins are still in circulation and could be vulnerable to potential quantum attacks.