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Researcher Named Giancarlo Lelli has successfully cracked the elliptic curve cryptography key (ECC) 15-bit using a quantum computer. This challenge was undertaken by the quantum computing research organization Q-Day Prize Project Eleven, which managed to obtain 1 Bitcoin (BTC).
However, it should be noted that Bitcoin uses a 256-bit ECC key, meaning the researchers' achievement of cracking a 15-bit Bitcoin is not a major security incident. But, this serves as an early benchmark for the hardware position related to elliptic curve problems.
Additionally, this serves as an early warning for the crypto industry. Project Eleven CEO Alex Pruden stated that all blockchains using ECC face similar risks with assets vulnerable to quantum computing.
For your information, the first public demonstration was conducted by Steve Tippeconnic in September last year, cracking 6-bit on quantum hardware.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).
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