Google researchers have heightened concerns about the long-term security of cryptocurrencies, warning that advances in quantum computing could undermine the cryptographic foundations that protect digital assets such as Bitcoin, according to Bloomberg.
Google flags rising quantum threat to crypto security, urges shift to post-quantum encryption
Google researchers warn that advances in quantum computing could break the elliptic curve and RSA cryptography underpinning Bitcoin and other cryptocurrencies, compromising digital asset security. Affected systems include all cryptocurrencies relying on ECDSA or RSA signatures, with the potential for mass wallet compromise and financial loss. Immediate migration to post-quantum cryptographic algorithms is advised.