Project Eleven CEO Says Quantum Labs Are Not Publishing Some Results

Project Eleven CEO Alex Pruden said quantum labs told his company they were not publishing some results to avoid public alarm, raising questions about visibility into a risk to crypto security.

In a livestream recorded Monday, Oct. 19, Pruden called the practice “a fact.” He said the labs described either being told not to publish results or choosing to keep them private, citing concern about public alarm. He did not name a lab, explain what any findings showed or identify who may have directed the publication decisions.

Pruden’s remark referred to no specific technical advance. It came during a discussion of preparations for a scenario in which AI-assisted mathematics weakens wallet signature systems. Ethereum Foundation researcher Justin Drake had urged the industry on Oct. 7 to plan for what he called “bunker mode” if that threat materializes. Many blockchain networks rely on digital signatures to authorize transactions, and a sufficiently powerful quantum computer could theoretically break some signature systems now in use.

Google’s March 31 disclosure offers a separate example of limiting technical details around quantum security. Google released estimates of the resources needed to break 256-bit elliptic curve cryptography and said it had engaged with the U.S. government. It published a zero-knowledge proof so others could verify the estimates without seeing the underlying circuits, which Google considered sensitive because they could provide a roadmap to malicious actors. The disclosure does not identify the labs Pruden described.

Project Eleven develops post-quantum security tools for digital assets and is working with Relm Insurance on how institutions’ preparations for quantum threats could inform digital-asset insurance reviews as part of its quantum-risk work with Relm. The company is developing Strongpoint, an institutional custody platform, and targets production in the fourth quarter of 2026.