Satoshi's Bitcoin Wallets Could Be Hacked

Tether CEO Paolo Ardoino expects Satoshi Nakamoto’s Bitcoin holdings to be re-introduced in the future, suggesting that his wallets could be hacked due to their lack of quantum-resistance.

While quantum computing is still a long way from breaking Bitcoin’s encryption, the advent of Google’s Willow chip in late 2024 has raised concerns about the network’s security.

However, analysts have pointed out that breaking the ECDSA algorithm would require a million qubits, which is currently unachievable.

Ardoino believes that quantum-resistant addresses will be added to the Bitcoin blockchain when a real threat arises, allowing those who still have access to their wallets to move their funds to more secure addresses.

Regarding Satoshi’s identity, a recent HBO documentary sparked controversy after it referred to Canadian developer Peter Todd as the creator of Bitcoin, a claim that was rejected by most of the crypto community.

In contrast, businessman Mike Novogratz believes that Satoshi is no longer alive. Satoshi's wallets are estimated to contain 1.1 million bitcoins, making him richer than Bill Gates if he were alive.

Posted using Tribaldex Blog