Coinbase’s Quantum Advisory Committee released a report on June 12, calling on blockchain developers to immediately begin post-quantum migration preparations and estimating that, due to public key exposure and address reuse, around 7 million bitcoins face potential risk of future quantum attacks. The committee emphasized that there is currently no quantum computer capable of breaking blockchain encryption, but the crypto community “needs to start preparing now, not debate when the threat will arrive.”
Coinbase report on quantum vulnerability estimates: around 7 million bitcoins identified as at risk
In the committee’s report, it confirmed that currently about 7 million bitcoins are considered to have quantum-attack vulnerabilities, arising from the following two situations:
Public key exposure: In legacy address types, the public key is directly exposed on-chain.
Address reuse: The same address is used multiple times, allowing the public key to be inferred.
In the report, the committee wrote: “Many are believed to be Satoshi Nakamoto’s tokens or funds, whose owners long ago lost the private key.” The committee also noted that technical upgrades for Bitcoin, Ethereum, and other networks should not wait until the community reaches consensus on how to handle tokens that are vulnerable.
Three proposed solutions for tokens not migrated: items confirmed in the committee’s report
The committee proposed three solutions for tokens that have not been migrated to quantum-safe addresses:
Permanently freeze or destroy after the deadline: After setting a deadline, permanently freeze or destroy tokens that have not completed migration.
Take no action: Let users decide for themselves. The committee pointed out that “compulsory destruction of cryptocurrencies overrides ownership and sets a precedent for network-layer intervention, which is contrary to Bitcoin’s core principles.”
Compromise measures: Including limiting the number of vulnerable tokens that can be moved per block; or accepting special cryptographic proofs in place of traditional signatures, allowing users to make a public commitment to migrate without disclosing private keys.
The committee confirmed: “The above proposals are mutually compatible; there is no reason not to adopt one or all of them, because each has its own advantages.”
Industry-confirmed action timeline
Based on the report and related coverage, industry progress is as follows:
January 2026: The Ethereum Foundation establishes a team to coordinate the transition of Ethereum into the post-quantum era and explores alternatives to quantum-resistant signatures.
February 2026: Ethereum co-founder Vitalik Buterin releases a quantum upgrade roadmap.
April 2026: Coinbase’s advisory committee warns that validators’ signatures on proof-of-stake networks such as Ethereum and Solana may be particularly vulnerable to quantum attacks.
June 10, 2026: The Stellar Development Foundation publishes a roadmap for migrating users to quantum-safe cryptographic technologies.
Bitcoin developers are still discussing within the community how to handle the ownership of bitcoins with security vulnerabilities and tokens that have not been migrated.
Frequently Asked Questions
Is there currently a quantum computer that can break Bitcoin’s encryption protection?
According to the committee’s report, there is currently no quantum computer that can break blockchain encryption. The report estimates that cryptographically meaningful quantum computers may appear as early as 2030, but the exact timeline remains uncertain.
What types of addresses are included in the quantum risk estimate for 7 million bitcoins?
According to the committee’s report, the quantum risk tokens mainly involve two types: legacy address types whose public keys are directly exposed, and addresses whose public keys can be inferred due to address reuse. The committee explained that many of them are believed to be tokens held by Satoshi Nakamoto, but with the private keys lost.
Which institutions make up Coinbase’s committee?
According to the report, members of the Coinbase quantum computing and blockchain independent advisory committee cover the following institutions: Stanford University, The University of Texas at Austin, the Ethereum Foundation, Eigen Labs, Bar-Ilan University, and the University of California, Santa Barbara. The committee was formed by Coinbase in January 2026.
