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Charles Hoskinson Identifies Number of Bitcoins Vulnerable to Quantum Attacks, 2026/04/18 12:23:35
The founder of the Cardano blockchain platform, Charles Hoskinson, stated that up to 1.7 million BTC could be vulnerable to attacks utilizing quantum computers.
He commented on the BIP-361 initiative, which proposes transitioning the Bitcoin network to post-quantum cryptography. This proposal pertains to funds held in outdated P2PK (Pay-to-Public-Key) addresses, where keys are exposed on the blockchain and could theoretically be compromised with advancements in quantum technology. The initiative suggests freezing such assets if they are not transferred to quantum-resistant addresses.
Hoskinson criticized the proposed mechanism for recovering funds:
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“This is not feasible. The scheme does not cover approximately 1.7 million bitcoins, particularly those created before the introduction of the BIP-39 standard with seed phrases in 2013.”
According to him, early wallets employed a different architecture, which precludes the use of modern recovery mechanisms, including seed phrases and zero-knowledge proof solutions.
Hoskinson further noted that a significant portion of early bitcoins may end up either frozen or vulnerable with the emergence of powerful quantum computers. He estimates that such scenarios could arise in the 2030s.
Previously, Jan3 founder Samson Mow expressed that hasty development of protective mechanisms against quantum threats could introduce additional risks to the Bitcoin network.
