Quantum computers could jeopardize millions of bitcoins by Satoshi Nakamoto

The cryptocurrency community has been debating the possibility of hacking the Bitcoin network BTC $88,728.15 Mezo Wrapped BTC 0.38% Market capitalization $39.23 million VOL. 24 hours $1.02 billion with the help of quantum computers, which could theoretically jeopardize the multibillion-dollar assets of the digital currency’s creator, Сатоші Накамото" href="https://noworries.news/biography/satoshi-nakamoto/" data-bio-id="4232">Satoshi Nakamoto. Some commentators suggest that if a quantum computer capable of implementing the Shor’s algorithm is developed, attackers could gain access to the private keys of old wallets, including those belonging to Satoshi.

According to the Arkham analytical company, the wallets attributed to Nakamoto contain about 1.096 million BTC, or about $ 98.25 billion at the current exchange rate. Concerns that these funds could be stolen have led to speculation about a possible market crash in the event of a quantum hack. Some panelists said that such a scenario would «destroy the credibility of the entire system.»

Analyst Willie Wu denied such predictions, noting that even in the event of a short-term price drop, experienced market participants would take advantage of the situation to buy assets. In his opinion, even a hypothetical quantum hack would not destroy the system, as the majority of bitcoins would remain secure.

Experts confirm that about 4 million BTC are stored on Pay-to-Public-Key addresses, where public keys have already been disclosed, making these coins more vulnerable to quantum attacks. At the same time, experts emphasize that quantum computers capable of implementing such attacks in practice may appear no earlier than ten years from now, so there is no immediate threat to the network.

Despite the technological advances in quantum computing, most analysts agree that the risk of a quantum hack of bitcoin is currently more theoretical. The community is closely monitoring the development of the technology, but does not consider it an inevitable cause of a massive crypto market crash.