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Philip Banks’ account was potentially compromised, declaring IP rights to the ChillGuy token team, causing a 30% price surge followed by a loss amid growing security concerns.
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Key points:
• The article highlights how certain BTC address types, particularly older legacy formats like P2PK, are more vulnerable to quantum attacks due to their exposure of public keys, lacking the extra hashing layers present in newer address formats.
• The panel explored how Shor’s and Grover’s algorithms could enable quantum computers to break into Bitcoin’s ECC and SHA256 hash functions.
• Opinions differed on the immediacy of the quantum threat, with experts like Adam Back expressing skepticism about rapid advancements in quantum computing.
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