Changpeng Zhao proposes freezing Satoshi's bitcoins: protection against the quantum threat
Binance founder Changpeng Zhao has put forward a radical initiative concerning the fate of bitcoins believed to belong to Satoshi Nakamoto himself. He proposed introducing a 12-month deadline to move these coins to secure wallets, and if no action is taken, to freeze them permanently. This statement came amid growing concerns about quantum computing.
The Quantum Threat: Why Old Wallets Are at Risk
According to Zhao's assessment, delay on this issue is extremely risky. If nothing is done, Satoshi's coins, stored in outdated wallets, could be hacked as soon as quantum computers achieve sufficient computing power. This concerns early addresses using the P2PK (Pay-To-Public-Key) format, which fully exposes the public key. Modern wallets using more complex schemes are less vulnerable, but early bitcoins are a "ticking time bomb."
Zhao himself warns: if action is not taken now, these funds will effectively go to whoever can hack them. The proposed one-year timer would give the owner—if they are alive and still have access—the opportunity to move the coins to a secure format. Otherwise, according to Zhao's plan, the lock should be permanent. This would mean only about 20 million BTC would remain in circulation, with the rest frozen forever.
Precedents and Community Stance
A similar idea was already voiced in 2024 by Ava Labs CEO Emin Gün Sirer. He also pointed out the vulnerability of P2PK wallets and proposed freezing Satoshi's coins before the quantum threat becomes a reality. In his view, the window for an attack is limited, which complicates the attacker's work but does not rule it out.
It is important to note that neither Zhao nor Sirer are calling for the blocking of modern wallets that use more secure protocols. The proposal concerns only old addresses, which are essentially a "quantum breach" in the network's security. If the community does not develop a protection mechanism, these coins could be lost or stolen, dealing a serious blow to Bitcoin's reputation.
Cryptalist Analytical Commentary: Zhao's idea, although it looks radical, has a real technical basis. Quantum computing is not science fiction, but a matter of time. Freezing inactive P2PK wallets is a preventive measure that could prevent a collapse of trust in the network. However, implementing such a solution would require community consensus and careful consideration to avoid violating the principle of blockchain immutability. In any case, this is a signal: Bitcoin must evolve to survive.