EU Regulators Warn Quantum Computing Could Threaten Blockchains
The warning says 6.9 million bitcoin worth about $586 billion could be exposed, and regulators urge a shift to quantum-resistant signatures.
- On Wednesday, the Joint Committee of the European Supervisory Authorities released its Autumn Risk and Vulnerabilities report, warning that quantum computers could undermine blockchain cryptography before reaching commercial viability.
- The European financial watchdogs cautioned that information gathered today could be decrypted later in so-called "harvest now, decrypt later" attacks, as advanced quantum systems could eventually compromise security protecting transactions and databases.
- Cryptoquant estimates that roughly 6.9 million BTC, worth roughly $586 billion, are vulnerable, with Satoshi-era BTC in legacy addresses facing greater risk because public keys are already visible on the blockchain.
- Although no quantum computer capable of breaking BTC cryptography exists today, an IBM report suggests such technology could be in use in four years or less, complicating potential security updates.
- The European Commission roadmap calls on member states to begin transitioning by the end of 2026, though upgrading BTC requires network-wide consensus, unlike centralized updates used by traditional financial institutions.
21 Articles
21 Articles
Quantum threat to Bitcoin could materialize before commercial viability, EU regulators warn
Data indicates that nearly $586 billion in Bitcoin held across older pay-to-public-key and reused addresses could be vulnerable to reverse-engineered private key attacks.
The New York Ledger
EU watchdogs warn quantum computers could pick crypto’s locks
EU supervisors warn quantum computing could weaken blockchain security as Bitcoin developers weigh a draft migration plan and Ethereum targets 2029. European Union financial supervisors warned Wednesday that advances in quantum computing could threaten the cryptography securing blockchains. The European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority said […]
EU Watchdogs Warn Quantum Computing Could Threaten Bitcoin Cryptography
Why Are European Regulators Warning Now? European financial regulators are warning that quantum computing could threaten the cryptography protecting blockchains before the technology develops a viable commercial use, adding regulatory urgency to Bitcoin's unresolved quantum-security problem. The Joint Committee of the European Supervisory Authorities, which brings together the European Banking Authority, European Securities and Markets Authority…
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