Renowned Bitcoin developer Jameson Lopp and a team of experts unveiled a draft proposal BIP-361. The initiative suggests freezing coins vulnerable to quantum computers to safeguard the network from potential future attacks.
Approximately 1.7 million BTC stored in early P2PK addresses are at risk. This includes the reserves of Bitcoin’s creator Satoshi Nakamoto, estimated at $74 billion. The theft of these coins could trigger a significant collapse in the cryptocurrency’s value.
The transition plan to post-quantum security involves three phases:
- Phase A. Three years after activation, network participants will no longer be able to transfer bitcoins to old-type addresses.
- Phase B. Five years later, old cryptographic signatures will become invalid. All coins at vulnerable addresses will be permanently frozen.
- Phase C. Developers will implement a recovery mechanism through zero-knowledge proofs. Owners of blocked addresses will be able to regain access to their assets using a seed phrase.
The authors described the concept as a “personal incentive to upgrade.” Frozen assets make the coins of other market participants more valuable. Conversely, funds seized through quantum systems devalue the overall supply.
Lopp clarified that BIP-361 is not yet ready for integration. The document serves as a draft action plan in case of a sudden breakthrough in quantum computing.
The Bitcoin community criticized the initiative. Users labeled the idea as authoritarian and confiscatory: it renders part of the UTXO invalid, violating the fundamental philosophy of the network.
This quantum proposal is highly authoritarian and confiscatory, but of course, it’s from Lopp. 🚩 🚩
There is no good rationale for forcing the upgrade and rendering old spends invalid. Upgrade should be 100% voluntary. pic.twitter.com/tQvJVgdPRY
— Cato The Elder (@CatoTheElder17) April 14, 2026
Earlier in April, Bitcoin developer Olaoluwa Osuntokun introduced a prototype tool to protect Bitcoin wallets from potential quantum attacks.