Google Researchers: Quantum Computers Could Crack Bitcoin Security with Minimal Resources
Google Quantum AI researchers have made significant breakthroughs in understanding the vulnerability of certain cryptocurrencies to quantum attacks.
The team found that breaking the core cryptography of various cryptocurrencies, secured by the secp256k1 curve, may require as few as 1200 logical qubits and 90 million Toffoli gates. This is a significantly lower threshold than previously thought, bringing the threat of quantum decryption closer to reality.
The researchers emphasized that 'fast-clock' quantum computers, which are capable of rapid gate operation speeds, are projected to be the first to reach the scale necessary for cryptographically relevant attacks. These systems could enable 'on-spend' attacks targeting public mempool transactions, potentially allowing malicious actors to seize funds before they are confirmed on the blockchain.
The team's analysis also highlights systemic risks associated with advanced features in some blockchains, such as smart contracts and Proof-of-Stake consensus mechanisms. They propose frameworks for regulating the recovery or destruction of dormant assets, preventing adversarial seizure.