#USA #New York #Quantum Cryptography #Project Eleven #Giancarlo Lelli

Project Eleven Awards the Q-Day Prize

In an unprecedented development within the realm of quantum cryptography, Project Eleven has honored Giancarlo Lelli with the Q-Day Prize, which carries a bounty of one Bitcoin (BTC). This significant achievement was recognized on April 24, 2026, after Lelli successfully broke a 15-bit elliptic curve key using a publicly accessible quantum computer. This event marks the largest demonstration to date of a type of attack that poses a serious threat to widely-used cryptocurrencies like Bitcoin and Ethereum, as well as to over $2.5 trillion in assets secured via elliptic curve cryptography (ECC).

The implications of this breakthrough resonate deeply in the cryptocurrency community. As Project Eleven's CEO, Alex Pruden, stated, "The resource requirements for these attacks are decreasing, which means executing them in practice is becoming more accessible." The Q-Day Prize serves as a wake-up call for the industry, emphasizing the urgent need to shift toward post-quantum cryptographic solutions. Indeed, tech giant Google has committed to achieving quantum security by 2029, further underscoring the pressing nature of this challenge.

Lelli accomplished this remarkable feat by deriving a private key from its public counterpart, searching through a space of 32,767 using a modified version of Shor's algorithm. Shor's algorithm addresses the Elliptic Curve Discrete Logarithm Problem, a crucial mathematical foundation underlying the digital signature protocols that secure many cryptocurrencies, including Bitcoin and Ethereum.

Since the beginning of 2026, theoretical quantum attacks on ECC have transitioned from hypothetical discussions to tangible reality. A milestone was reached in September 2025, when the first public break occurred on quantum hardware, demonstrating a 6-bit ECC key vulnerability. Lelli's successful attack sets a new record, extending the benchmark to a 15-bit key, representing a staggering increase of 512 times.

Recent research suggests that theoretical resource requirements for executing a full-scale 256-bit attack—the level at which Bitcoin operates—have substantially decreased over the past months. A whitepaper released by Google in April 2026 estimates the requirement at under 500,000 physical qubits, while further studies from institutions like Caltech and Oratomic suggest that it could be as low as 10,000 qubits when utilizing a neutral-atom structure.

While the leap from 15 bits to 256 bits seems vast, experts feel that this gap is increasingly being seen as a challenge of engineering rather than one rooted in fundamental physics. Currently, approximately 6.9 million Bitcoin are stored in wallets where their public keys are visible on-chain, inherently exposing them to potential quantum attacks. Other blockchain systems relying on ECC face similar vulnerabilities.

In response to the evolving landscape, Project Eleven is already preparing its next challenge, which will explore the intersection of cutting-edge AI models and quantum cryptanalysis. As this field develops rapidly, the urgency for effective post-quantum security measures cannot be overstated.

About Project Eleven

Project Eleven is at the forefront of developing robust infrastructure and tools designed to withstand the impending post-quantum era. Dedication to crafting scalable solutions enhances security within a highly dynamic quantum threat environment. With a team boasting extensive knowledge in cryptography, blockchain technologies, and financial systems, Project Eleven bridges advanced post-quantum studies with real-world practices aimed at fortifying the digital asset ecosystem.

For further information, please visit www.projecteleven.com.