A panel assembled by Coinbase suggests that Bitcoin should initiate preparations for potential quantum threats, yet refrains from deciding if millions of at-risk coins, including many associated with Satoshi Nakamoto, should be frozen.
By Shaurya Malwa Jun 13, 2026, 6:07 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- A Coinbase advisory panel comprised of leading cryptographers asserts that while quantum computers currently do not pose a threat to Bitcoin, it is essential for the community to start planning for post-quantum signatures immediately.
- Approximately 6.7 million bitcoins are viewed as vulnerable to future quantum attacks, including around 1.7 million in early addresses likely connected to Satoshi Nakamoto and missing keys, raising questions about whether these coins should remain spendable.
- The panel refrains from endorsing either proposal to freeze or restrict vulnerable coins, instead highlighting the potential for compatible solutions and the necessity for clear communication and timely responses from the Bitcoin community.
A Coinbase-assembled advisory group of distinguished cryptographers has outlined recommendations for Bitcoin regarding the millions of coins that future quantum computers could compromise, yet it has chosen not to answer the most challenging question.
The group, which shared their findings with CoinDesk this week, features experts such as Scott Aaronson from the University of Texas at Austin, Dan Boneh from Stanford, and Justin Drake from the Ethereum Foundation. They agree that quantum computers are not a current threat to blockchains and that the timeline for when they may become one is unclear, suggesting that the discussion should proceed regardless of this uncertainty.
Bitcoin carries the majority of this risk. About 1.7 million bitcoins are held in roughly 20,000 early pay-to-public-key addresses, which expose the owner's public key on the blockchain, making them susceptible to quantum attacks.
Many of these coins are believed to belong to Bitcoin's anonymous creator Satoshi Nakamoto, as well as to other users who have lost access to their keys, rendering those coins immovable. An estimated 5 million additional coins are vulnerable due to address reuse, according to Project11, a research initiative monitoring this situation; however, most of these are likely active holdings in exchange wallets.
While integrating quantum-resistant signatures is relatively straightforward, the contentious issue revolves around the coins that are not moved. One faction advocates for a firm deadline after which the current Bitcoin signature methods, ECDSA and Schnorr, would no longer be recognized, rendering any unmigrated coins unspendable. This perspective argues that allowing these coins to remain accessible could provide a future attacker, potentially a sanctioned state like North Korea, with a significant amount of bitcoin, which could destabilize the market and undermine the network's integrity.
The opposing view regards such measures as confiscation, infringing upon the fundamental property rights that Bitcoin was designed to uphold, and warns that this could set a dangerous precedent for freezing coins under governmental pressure in the future.
Numerous proposals have emerged that CoinDesk has been tracking over the past few months.
Hourglass would limit the quantity of vulnerable coins that can be spent per block to avert an oversupply. BIP-361, developed by Jameson Lopp and others, would allow holders who migrate to demonstrate ownership after a cutoff using a quantum-resistant proof that does not expose any key. PACTs, proposed by Dan Robinson from Paradigm, would enable owners to timestamp a private claim now and transfer funds later without revealing anything at present.
However, the Coinbase board emphasizes that these proposals can be compatible and may be implemented simultaneously.
What the board refrains from doing is making a definitive choice. They state that no single correct solution exists and that it is up to the Bitcoin community to reach a consensus. They commit to two key actions: initiating technical migration planning immediately, as this is distinct from the debate over abandoned coins, and ensuring that users receive clear communication to prevent the issue from lingering.
"While the council does not take a position on the debate regarding abandoned coins, which is for the community to decide, they are clear on two points: Begin the technical migration work now. The engineering efforts to support post-quantum signatures are independent of the governance discussion and should not be delayed."
"Provide clear communication. Users must be informed that this issue is being addressed earnestly. Uncertainty itself poses a risk," they add.
As proposals continue to proliferate and the individuals associated with them gain prominence, the urgent message remains unchanged: action is required now, a call that Bitcoin has yet to heed, while Ethereum has been preparing for years.
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