Nearly $500B in Bitcoin Is Exposed to Future Quantum Computing Attacks: Glassnode
Over 6 million Bitcoin—about 30% of all circulating coins, worth $469 billion—are vulnerable to potential theft if powerful quantum computers are developed, according to Glassnode. This vulnerability exists because the coins’ public keys have already been exposed on the blockchain. Quantum computers could use algorithms like Shor’s to recover private keys from known public keys, enabling theft of exposed coins. Glassnode identifies two categories: structural exposure (1.92 million BTC in legacy and script-based outputs, often lost or dormant) and operational exposure (4.12 million BTC made vulnerable through address reuse, notably on exchanges). Binance and Bitfinex have particularly high exposure, while Coinbase and sovereign holdings (e.g., US, UK, El Salvador) have little or none. The report emphasizes that these findings reflect wallet management choices, not immediate risk. The timing of quantum threats remains uncertain, with “Q-Day” estimates ranging from 2030 onward. Glassnode calls for exchanges and custodians to reduce exposure via improved address management and migration plans as the industry explores protocol updates for quantum resistance.
