Coinbase Council Highlights Quantum Risk to Bitcoin Security
- Coinbase’s Quantum Advisory Council urges planning for post-quantum migration before quantum attacks become feasible.
- Approximately 7 million BTC are identified as quantum-vulnerable due to exposed public keys from legacy formats or address reuse.
- Around 1.7 million BTC are held in legacy Pay-to-Public-Key addresses, potentially including early mined and abandoned coins.
- The council suggests separating technical upgrades from governance debates on handling vulnerable coins.
The report emphasizes the importance of proactive security planning for long-lived digital assets like Bitcoin. Addressing the quantum vulnerability issue now allows time for testing systems and avoiding rushed decisions later.
With an estimated 7 million BTC at risk, the council’s message is clear that post-quantum migration is a critical issue that requires attention before it becomes an emergency situation. (Source)
