Europol urges phased shift to post-quantum security to protect exposed crypto wallets
Summary
Europol says future quantum-computing attacks are more likely to threaten cryptocurrency wallets than undermine blockchains. No capable quantum computer exists, and the agency predicts adaptation rather than systemic collapse, but urges a phased transition to post-quantum cryptography and coordinated wallet and network upgrades. Exposed public keys make roughly 6.9 million bitcoin, including early holdings, potentially vulnerable; those keys cannot be secured retroactively. Migrating Bitcoin’s entire UTXO set could consume substantial block space, while proposed post-quantum signatures are 10 to 120 times larger than current ones. The chief challenge is coordinating a decentralized network to adopt safeguards in time.
