More than 6 million BTC Vulnerable to Quantum Attacks

Analytical platform Glassnode has identified significant risks for Bitcoin related to the development of quantum computing. More than 6.26 million BTC, with a total value of approximately $515 billion, may be vulnerable to attacks from quantum computers.

The key issue is that 31.2% of all bitcoins are held at addresses whose public keys have already been exposed in the blockchain. This creates a potential security threat to funds stored in such wallets.

A significant portion of the vulnerable coins is linked to historical wallets. Approximately 1.1 million BTC of the total volume is associated with Satoshi Nakamoto, the creator of Bitcoin.

The situation is exacerbated by the concentration of vulnerable assets on major cryptocurrency exchanges. Exchanges hold 1.79 million BTC with exposed keys, requiring special attention from users and platforms.

The level of risk varies depending on the specific platform. The share of bitcoins with exposed public keys among coins on various exchanges is distributed as follows:

• Binance — 83%
• Bitfinex — 100%
• Coinbase — 10%
• Robinhood — 100%
• Revolut — 99%
• Grayscale — 49%
• Fidelity — 2%

The dynamics of this indicator also raise concern among experts. Since the beginning of 2021, the share of bitcoins with exposed public keys has increased from 24.8% to the current 31.2%, indicating a growing problem.