Europol Warns Crypto Wallets Face Quantum Threats
The agency said migration could take years and urged developers, custodians and users to start testing quantum-resistant systems now.
- On Oct 7, Europol published two reports examining how quantum computing advances could threaten digital assets and encrypted information, urging the industry to begin security preparations now.
- Though current machines lack the capacity, quantum computers could theoretically derive private keys from exposed public keys, potentially allowing attackers to sign transactions without permission.
- NIST-Approved standards including FIPS 203, FIPS 204, and FIPS 205 provide quantum-resistant cryptography frameworks that organizations are beginning to implement ahead of practical threats.
- BitGo and Silence Laboratories tested post-quantum multiparty computation signing earlier this year, while Coinbase and Sui are designing infrastructure to support future quantum-resistant authentication methods.
- Europol also warned of "harvest now, decrypt later" tactics targeting long-lived confidential data, noting that migration requires complex coordination among developers, custodians and network validators.
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Europol warns quantum computing could threaten cryptocurrencies and encrypted data
The European Union Agency for Law Enforcement Cooperation (Europol) has warned that advances in quantum computing could pose significant future risks to cryptocurrencies and encrypted digital information, urging organisations, governments and the cryptocurrency industry to begin preparing now.In two newly released reports, Europol examined how increasingly powerful quantum computers could undermine the cryptography protecting cryptocurrency wall…
Europol says cryptocurrency portfolios, not blockchains, are the main point of exposure to quantum computer attacks
Europol Warns Crypto Wallets Face Severe Quantum Attack Risks
The post Europol Warns Crypto Wallets Face Severe Quantum Attack Risks appeared first on Coinpedia Fintech News Europol has warned that quantum computing could threaten the crypto industry, with wallet keys seen as the main risk. The agency is urging developers, wallet providers, and users to prepare for stronger security before quantum attacks become possible. In two new reports, Europol explained how quantum computers could put crypto assets a…
Europol recommends starting from now on the transition to post-quantic cryptography: a sufficiently powerful quantum computer could derive private keys from exposed public keys, although the agency does not present the threat as imminent.
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