Quantum threats have skewed the rhythm; financial communication is the real prize.

ME News Report, May 30 (UTC+8): Andrew Gault, founding partner of 7percent Ventures and CEO of ZeroTier, said the market is abuzz with concerns that quantum computing could crack Bitcoin wallet private keys, but it is overlooking a more urgent threat—encrypted communication data exchanged among financial institutions. Gault said attackers are storing large volumes of financial data using a “collect first, decrypt later” strategy, to crack it once future quantum computers become powerful enough. Previously, Google’s Quantum AI team said quantum computers may be able to crack Bitcoin private keys in a short time, but Gault believes the encrypted data being collected now is more worth attention. Google plans to complete its migration to post-quantum cryptography by 2029, and Citigroup’s research suggests that if quantum computing breaches the payment systems of major U.S. banks, it could lead to losses of up to $3.3 trillion USD.