New estimates From Google Quantum AI show quantum attack on Bitcoin is closer than thought

Google Quantum AI researchers have determined 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, a significantly lower threshold than previously understood. The team’s work elucidates specific vulnerabilities blockchain technologies face with the development of quantum computers and potential mitigation strategies. To ensure responsible disclosure, the researchers validated their findings using a zero-knowledge proof without revealing specific attack vectors. This analysis reveals that emerging “fast-clock” quantum computers could enable attacks on cryptocurrency transactions in the public mempool. This represents a significant reduction in the estimated resources needed for a successful attack compared to earlier projections, bringing the threat of quantum decryption closer to reality. These architectures, the researchers note, could…