Quantum computing white paper reveals encryption risks

ME News message. On May 3 (UTC+8), Google’s Quantum AI latest white paper shows that the number of physical qubits required to break the core cryptographic system behind cryptocurrencies has been lowered to about 500,000, which is down approximately 20 times from earlier estimates—indicating that quantum threats have become a mid-term, quantifiable risk. Current attacks mainly target signature mechanisms based on Elliptic Curve Cryptography, including in-transit transaction attacks and static-asset attacks. The report states that approximately 6.9 million Bitcoins (about 33% of the total) and a large number of Ethereum accounts have exposed their public keys, creating potential risks. Although hardware development still lags, algorithm optimization is continually advancing, and Q-Day may occur between 2028 and 2035; the bottleneck for migration lies in governance rather than technology. (Source: MLion)