Bitcoin developers this week submitted draft BIP-361, proposing a freeze of quantum-vulnerable addresses to safeguard funds. The plan, led by Jameson Lopp and published Tuesday on GitHub, targets older wallet types holding roughly 1.7 million BTC, including early holdings from the Satoshi era. Developers outlined a phased migration path toward quantum-resistant wallets.
From BIP-360 to BIP-361: Addressing Legacy Exposure
The proposal builds on BIP-360, which introduced Pay-to-Merkle-Root, an output type that eliminates exposed public key paths from older Bitcoin addresses. Phase one blocks new transactions to legacy wallets, pushing users to move funds to upgraded addresses. Phase two enforces stricter measures after a set period: wallets still using legacy signatures lose the ability to send Bitcoin, effectively freezing remaining funds. A third phase, still under discussion, may allow recovery via zero-knowledge proofs.
Quantum Timeline: Real Threats Projected for 2027–2030
Developers cite projections placing viable quantum attacks between 2027 and 2030, with an estimated 34% of Bitcoin's supply currently still exposed in legacy address types. They argue that early action reduces long-term risk and that a clear timeline helps exchanges and institutions prepare. Blockstream Research has already tested post-quantum transactions on a live Bitcoin sidechain.
Community Backlash: Forced Upgrades vs. Core Principles
The proposal drew criticism from parts of the Bitcoin community. Some argue that forced upgrades contradict Bitcoin's core principle of non-confiscatory property. Critics warn the plan could render valid holdings permanently unusable. Developer Mark Erhardt shared the draft, sparking debate; some called the approach overly restrictive and confiscatory. Lopp clarified that the draft is an early-stage concept requiring further research and consensus.