Crypto Networks Exposed: 6.7M Bitcoin Addresses Vulnerable to Quantum Threats

The cryptocurrency industry is bracing itself for the potential threat of quantum attacks, which could compromise the security of major blockchain networks. A recent study by Google Quantum AI researchers has shed light on the magnitude of this risk, with Bitcoin taking center stage.

According to the research, approximately 6.7 million Bitcoin addresses are vulnerable to quantum attacks due to exposed public keys and key reuse across older address types and legacy outputs. This translates to around $451.3 billion in value, based on current market prices.

The study highlights Ethereum as another major network facing significant exposure, with an estimated 20.5 million ETH in vulnerable user funds, as well as additional risks tied to contract administration, validator cryptography, and data-availability design. Other networks, such as Solana, Algorand, TRON, and XRP Ledger, also face persistent account model vulnerabilities.

The researchers emphasize that these findings are based on hypothetical scenarios and do not necessarily reflect the current capabilities of quantum computers. However, they stress the importance of preparing for potential future threats by migrating to post-quantum cryptography.