Q-Day Could Arrive Before Quantum Computers Are Commercially Useful, EU Warns
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G7 Warns Quantum Threat Demands Action as Crypto Industry Weighs Fixes
The group is urging organizations to adopt post-quantum security before powerful computers can compromise today’s encryption and digital signatures.
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.
Bitcoin price reaches $72.5K as US issues ‘Economic D-Day’ threat to Iran
Bitcoin saw new multimonth highs above $72,500 even as US stocks cooled amid US threats of “economic warfare” with Iran.
Bloomberg: Quantum computing puts approximately 34% of the existing Bitcoin supply at risk of being hacked.
PANews reported on July 7th, citing Bloomberg, that quantum computing is considered a new threat that could potentially crack the cryptographic algorithms of crypto assets such as Bitcoin. Quantum computers are expected to far surpass traditional computers in decrypting complex mathematical problems, and theoretically, could deduce private keys from public keys, thereby stealing on-chain assets. Wallets with early address formats and those that reuse addresses are at the highest risk. Galaxy Digital estimates that approximately 34% of circulating Bitcoin, worth about $470 billion, may become targets for future quantum attacks. Coinbase has established an advisory committee, and Strategy, where Michael Saylor works, has also launched a related risk project.
Revolut attackers threaten daily customer data leaks
Attackers reportedly published identity documents and selfies belonging to Revolut customers and threatened to release more data each day until the fintech pays.
While Bitcoin Devs Debate Next Moves, IonQ Unveils Superion 256 Quantum Computer
The company has built its first chips and begun testing prototypes as it seeks to manufacture quantum computers in larger quantities.