Link: El Salvador has split its 6,000+ bitcoin across 14 wallets, describing the move as a precaution against quantum attacks, a merely theoretical threat for now (Brayden Lindrea/Cointelegraph)

El Salvador has redistributed its Bitcoin assets into 14 different wallets to mitigate risks associated with potential quantum computing threats. This strategic move involves transferring $678 million worth of Bitcoin, which were previously stored in a single wallet.

The distribution across multiple wallets is aimed at reducing the impact of a possible quantum attack. According to El Salvador’s Bitcoin Office, each new wallet now holds up to 500 BTC.

The rearrangement enhances security because once Bitcoin is spent from an address, its public keys become exposed, thus vulnerable. This vulnerability could potentially be exploited by quantum computers if they evolve significantly.

Despite the proactive steps taken by El Salvador, quantum technology currently lacks the capability to crack Bitcoin's elliptic curve cryptography. Experts like Michael Saylor consider the threat to be more hypothetical than imminent at this stage.

However, the threat of quantum computing is taken seriously by analysts, as over 6 million Bitcoins could be at risk if quantum attacks become feasible. Current quantum computers haven't succeeded in decrypting even the simplest encryptions.

Meanwhile, El Salvador continues to face scrutiny over its Bitcoin investments from global entities such as the IMF, which questions the transparency and timing of its purchases. #

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