Crypto’s first quantum attack will look like unexplained breach: Quantus founder
Bad actors with access to a cryptography-breaking quantum computer probably won’t try to announce it to the world by hacking Satoshi Nakamoto’s high-profile Bitcoin wallets, crypto executives say.
Quantum computing may not cause noticeable thefts in cryptocurrency, warns Quantus chief Christopher Smith. Instead, a quantum break-in could manifest as a series of unexplained wallet breaches, leaving no trace of the method used. When a private key is compromised, there's no memo explaining how. The quantum threat, known as "Q-day," could arrive without detection, as a powerful quantum computer could derive private keys from public ones, enabling fund transfers without tampering with systems.
Smith says the first signs might be unrelated wallet hacks, with the attacker concealing the quantum theft as a regular compromise. The target could be military systems, state secrets, or even Tether's minting key, which, if exploited, could flood the market with tokens. While estimates of when a quantum computer capable of breaking modern cryptography will arrive vary widely, Smith believes there's a 50-50 chance it could happen by 2028.
However, the uncertainty should not delay the shift to post-quantum cryptography, as blockchains are already migrating to protect against this potential threat.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
