Why Quantum Computers Could Steal Satoshi’s Bitcoin First

Rushing early into post-quantum cryptography could create risks, including bugs or scams posing as wallet upgrades. Satoshi Nakamoto’s Bitcoin could be among the first major targets of a future quantum attack because many of the earliest units sit in addresses where their public keys are already exposed. Bitcoin security researcher Justin Drake warned in a recent interview with analyst Denis Liu that this vulnerability does not mean users should panic, as BTC held behind hashed addresses can remain protected until they are spent. Satoshi’s Early Coins Face a Different Risk The September 21 interview focused on roughly 1 million BTC mined by Satoshi across 20,000 addresses. Drake explained that the units were mined in 50-BTC blocks, with each address holding one block reward. “All of these early Bitcoin addresses are raw pub keys,” Drake told Liu. “There isn’t this hashing step, and so they’re all vulnerable.” He described Satoshi’s holdings as a potential target for “the operator of a quantum computer,” putting them in a different position from BTC that has never been spent from a hashed address. For ordinary holders, the security issue is tied to spending. A Bitcoin address genera...