About 6.04M BTC, roughly $498B at today's $82,400, sits in addresses whose public key is already visible on-chain. That's the pile Justin Drake's "bunker mode" post is about.
Drake, an Ethereum Foundation researcher, wrote on Wednesday that it's now reasonable to brace for the elliptic-curve signatures behind Bitcoin and Ethereum wallets breaking before quantum computers arrive, "in the worst case in months not years." His fix needs no new wallet: slowly move funds to addresses that have never signed a transaction. The post has 4.39M views.
Glassnode's May count splits that 6.04M in two. 1.92M BTC is exposed by design, in old pay-to-public-key outputs (Satoshi-era coins included) and Taproot. The other 4.12M BTC got exposed through address reuse and leftover change. About half of labelled exchange BTC is in that group. The US, UK and El Salvador government wallets showed 0%.
Vitalik Buterin backed fresh addresses with a condition: "If it's easy for you, do it." Then: "I personally have lost more money in botched migrations than I have lost in all hacks combined."
Nothing has been broken. A rushed migration is the risk you can actually take today.
$BTC $ETH
#Bitcoin #CryptoSecurity
NFA. DYOR.
Drake, an Ethereum Foundation researcher, wrote on Wednesday that it's now reasonable to brace for the elliptic-curve signatures behind Bitcoin and Ethereum wallets breaking before quantum computers arrive, "in the worst case in months not years." His fix needs no new wallet: slowly move funds to addresses that have never signed a transaction. The post has 4.39M views.
Glassnode's May count splits that 6.04M in two. 1.92M BTC is exposed by design, in old pay-to-public-key outputs (Satoshi-era coins included) and Taproot. The other 4.12M BTC got exposed through address reuse and leftover change. About half of labelled exchange BTC is in that group. The US, UK and El Salvador government wallets showed 0%.
Vitalik Buterin backed fresh addresses with a condition: "If it's easy for you, do it." Then: "I personally have lost more money in botched migrations than I have lost in all hacks combined."
Nothing has been broken. A rushed migration is the risk you can actually take today.
$BTC $ETH
#Bitcoin #CryptoSecurity
NFA. DYOR.