Illustration of Bitcoin quantum computing risks focusing on exchange wallets and protective solutions.
Illustration of Bitcoin quantum computing risks focusing on exchange wallets and protective solutions.
Larawang ginawa ng AI

Bitcoin quantum risks concentrate on exchange wallets, data shows

Larawang ginawa ng AI

New analysis reveals that over 30 percent of Bitcoin's supply sits in wallets vulnerable to future quantum attacks, with exchanges holding a disproportionate share of the exposure. A startup has proposed a soft-fork solution to protect even dormant holdings, including Satoshi Nakamoto's estimated 1.1 million coins.

Blockchain analytics firm Glassnode reported that 6.04 million bitcoin, or 30.2 percent of the circulating supply, reside in addresses where public keys have already been exposed on the blockchain. The firm identified exchanges as the primary concentration point, noting that roughly half of all bitcoin held by labeled trading platforms falls into this category compared with less than 30 percent of non-exchange supply.

Ano ang sinasabi ng mga tao

Initial reactions on X focus on Glassnode data showing significant Bitcoin exposure to quantum risks in exchange wallets and dormant holdings including Satoshi's, with users noting the disproportionate impact on exchanges. Opinions range from calls for caution due to added uncertainty, to viewing the proposed soft-fork protection for vulnerable coins as forward-thinking and potentially genius, though some express mild skepticism about its flawless implementation.

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Illustration of a hacked Polymarket wallet showing $520,000 being drained on the Polygon blockchain.
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Polymarket internal wallet drained of over $500,000

Iniulat ng AI Larawang ginawa ng AI

A private key compromise led to a drain of more than $520,000 from a Polymarket-linked wallet on the Polygon blockchain on May 22. The prediction market platform confirmed that user funds and core contracts remained unaffected.

Crypto companies are updating their wallets to guard against potential quantum computing risks to major networks like Bitcoin and Ethereum.

Iniulat ng AI

Long-term bitcoin holders have increased their holdings by more than 2 million coins during the current bear market. The supply now stands at 16.3 million BTC, approaching previous records. This shift comes as prices remain below earlier peaks above $126,000.

Bitcoin held around $68,000 on Tuesday, March 3, showing resilience after Monday's rally, as global stocks tumbled on renewed Middle East tensions. The Nasdaq and S&P 500 fell over 2%, gold dropped sharply, and the U.S. dollar strengthened amid risk-off moves.

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