6.7 Million Bitcoin Face A 9-Minute Quantum Threat And Nobody's Watching, Crypto Exec Warns

Benzinga04-03

According to Alex Pruden, CEO of Project 11, the cryptocurrency industry is dangerously unprepared for quantum computing as a threat.The Google Breakthrough: Moving The GoalpostsThe catalyst for the ...

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This means a quantum attacker could theoretically see a transaction in the mempool, crack the private key, and steal the funds before the original transaction is confirmed.Previous estimates suggested it would take a massive quantum computer with 100 billion logical operations to break Bitcoin. The new algorithm proposed in the Google paper requires only 7 million operations.How The Hack Works: Going “The Wrong Way”Bitcoin is secured by public key cryptography, specifically relying on a mathematical concept called the “discrete log problem.”In the current paradigm, it operates as a one-way street: a private key generates a public key (and an address). You can share your public address with anyone, and it is mathematically impossible for a classical computer to reverse-engineer your private key from that address.Quantum computers possess superpowers via “qubits,” which allow them to process multiple possibilities simultaneously rather than linearly.“What quantum computers let you do is go the way you’re not supposed to go,” Pruden noted. By using an algorithm called Shor’s Algorithm, a quantum computer can take an exposed public key and derive the underlying private key.Once a quantum attacker has the private key, they effectively own the Bitcoin. “If I have your private key, I own your Bitcoin. That’s it,” Pruden said. “There’s no two-factor authentication. There’s not a flashing neon sign in the sky that says ‘Alex is the quantum adversary.’ It’s just going to look to the world like you lost control of your key.”What The Crypto Industry Must Do NowWhile Pruden stresses that a cryptographically relevant quantum computer does not exist today, he argues the industry must begin migrating immediately due to the complexity of the transition.A post-quantum upgrade for Bitcoin would likely require a hard fork and massive increases in transaction data sizes.“We don’t have to believe that it’s 100% certain that a quantum computer is coming in the next five years,” Pruden warned. “We just have to believe that there’s some non-negligible chance. We just can’t take the risk that we’re wrong here.”Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.To add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2624685564","isCrawlerRequest":true}