Which BTC are currently exposed to quantum risks? "Static quantum exposure" refers to the portion of circulating BTC whose public keys are displayed on-chain, and theoretically, the private keys can be deduced from them using Shor's algorithm by a quantum computer. Research indicates that 6.04 million BTC are currently in a state of quantum exposure. We categorize this risk into two types: 1⃣ Structural exposure: 1.92 million BTC; Primarily stemming from scripts like P2PK, naked multi-signature, and Taproot, which inherently display public keys. Coins from the Satoshi Nakamoto era are the most difficult to migrate. 2⃣ Operational exposure: 4.12 million BTC; Primarily due to address reuse leading to premature public key leaks. This segment is larger but also easier to mitigate. Of these, 1.66 million are associated with exchanges. Among the marked balances, Coinbase has only 5% risk exposure, while other exchanges and known entities show relatively high risk exposure. Of course, this is not to emphasize risk ranking or quantum timeline predictions, but rather to say that most exposures are management issues that can be significantly reduced by avoiding operational measures such as address reuse. - The above data comes from Glassnode's research report -