Coinbase Warns 7 Million Bitcoin Vulnerable to Quantum Attack, Urges Migration Preparation

According to Decrypt, Coinbase's quantum advisory committee on June 12 issued a report urging blockchain developers to begin post-quantum migration preparation immediately. The report warns that approximately 7 million Bitcoin could be vulnerable to future quantum attacks due to public key exposure and address reuse, though no quantum computer capable of breaking blockchain encryption currently exists.

Quantum computing threats are estimated to emerge as early as 2030. The report proposes three handling approaches for unmigrated tokens: permanent freezing or destruction after a deadline, allowing user discretion, or implementing compromises such as limiting movable vulnerable tokens per block. Ethereum Foundation and Stellar Development Foundation have already initiated quantum-safe transition efforts.