BitMEX Research has published a detailed proposal outlining a recovery plan to protect Bitcoin users from the potential future threat of quantum computing attacks. The core of the plan addresses a scenario where the Bitcoin network might be forced to implement a "soft fork freeze" to lock coins held in vulnerable legacy addresses, such as P2PKH or P2PK, preventing them from being spent by anyone—including their legitimate owners—to thwart theft by a quantum attacker.
The research highlights that these vulnerable legacy addresses represent approximately 8.6% of Bitcoin's total supply, a category that notably includes the famous coins mined by Satoshi Nakamoto in 2009. To mitigate the risk of these funds being permanently lost in a freeze, BitMEX proposes several technical "escape routes" for recovery.
For standard wallets, the proposal outlines a clumsy but effective two-step process. First, a user would broadcast a transaction containing a hash commitment of their private key or seed phrase. After a waiting period, such as 100 blocks, a second transaction would be broadcast to reveal the key, allowing the funds to be moved to a quantum-safe address.
A more advanced solution involves the use of Zero-Knowledge Proofs (ZKPs). This method would allow a user to attach a proof to their recovery transaction, demonstrating knowledge of the seed phrase without ever revealing the sensitive information itself, offering a more efficient and secure path.
Furthermore, BitMEX suggests a proactive measure called the "Pre-QDay Commitment." This would enable users to broadcast a hash of their keys before quantum computers become a threat, pre-securing their ability to recover funds later. The overall plan is designed to ensure that nearly every frozen coin could potentially be recovered in a quantum-safe manner.
