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Bitcoin news: Core developer Jameson Lopp proposes freezing 5.6 million BTC (28% of the total supply) to protect against quantum theft. These coins, last moved over a decade ago, are likely lost and valued at $420 billion. Lopp supports BIP-361 to phase out quantum-vulnerable signatures. Bitcoin market news highlights this early-stage proposal, which aims to prevent potential attacks and market panic.

BlockBeats report, on April 16, Bitcoin Core developer Jameson Lopp recently stated that rather than allowing quantum computing attackers to steal bitcoins that have remained dormant for long periods, it would be better to freeze them. Approximately 5.6 million BTC—about 28% of the total supply—have not been moved in over a decade and are likely permanently lost, valued at around $420 billion. If these dormant coins were compromised by quantum computers and entered the market, they could trigger severe volatility and market panic, potentially undermining confidence in the Bitcoin network. Lopp emphasized that this is not a outcome he desires, but rather a temporary measure to counter a potential existential threat; he prefers rendering these "lost" coins inaccessible to attackers.

Lop's proposed BIP-361 aims to phase out the current quantum-vulnerable signature mechanism by invalidating transactions from wallets that have not migrated, thereby encouraging users to upgrade. The idea is still in its early stages, and Lop himself has said he "dislikes" this approach and hopes it will never need to be implemented; however, he believes that the overall security of the network is more important than strict adherence to immutability in the face of quantum threats.