Bitcoin News Alert: Naoris Dares Hackers with $120,000 Bounty to Break Blockchain Encryption
In a bold move shaking the crypto world, cybersecurity firm Naoris has announced $120,000 bounties for anyone who can break major blockchain encryption standards. This high-stakes challenge puts Bitcoin’s security under the microscope as quantum computing threats loom.
Why is Naoris offering bounties for blockchain encryption breaches?
The company is targeting several critical cryptographic standards with escalating rewards:
- $50,000 for breaking secp256k1 (Bitcoin and Ethereum’s standard)
- $30,000 for compromising Ed25519 (used by Solana and messaging apps)
- Smaller bounties for other elliptic curve algorithms securing internet infrastructure
How serious is the quantum computing threat to Bitcoin?
While Blockstream CEO Adam Back estimates it would take 10 billion trillion years to break Bitcoin’s encryption with current technology, the crypto community isn’t taking chances:
| Quantum Defense Initiative | Description |
|---|---|
| Bitcoin Improvement Proposal | Phasing out legacy signature schemes |
| Sui Research Framework | Quantum-resistant solution for select blockchains |
What would happen if blockchain encryption was broken?
A successful breach could trigger:
- Collapse of major blockchain networks
- Disruption of secure communications
- Vulnerabilities in global internet infrastructure
Is the crypto industry prepared for quantum threats?
The race for quantum-resistant solutions reveals fragmentation:
- Sui’s framework works for Solana, Near, and Cosmos
- Bitcoin and Ethereum require separate solutions
- Naoris bounty program accelerates vulnerability testing
As quantum computing advances, today’s security measures will determine whether cryptocurrencies survive tomorrow’s threats. The Naoris initiative serves as both warning and opportunity for the blockchain community to future-proof its foundations.
Frequently Asked Questions
Q: How long would it take to break Bitcoin’s encryption with current technology?
A: Estimates suggest approximately 10 billion trillion years using today’s GPU technology.
Q: Which cryptocurrencies are most vulnerable to quantum attacks?
A: Bitcoin and Ethereum currently use encryption standards specifically targeted by the Naoris bounties.
Q: Can existing blockchains upgrade to quantum-resistant encryption?
A: Yes, but solutions like Bitcoin’s proposed BIP would require network-wide upgrades and coordination.
Q: Why isn’t Sui’s quantum-resistant framework compatible with Bitcoin?
A: Different blockchain architectures require tailored solutions, creating fragmentation in quantum defenses.
