EU Regulators Warn Quantum Threat Could Expose $586 Billion in Bitcoin Before Commercial Use
Updated
Updated · CoinDesk · Sep 24
EU Regulators Warn Quantum Threat Could Expose $586 Billion in Bitcoin Before Commercial Use
3 articles · Updated · CoinDesk · Sep 24
Summary
$586 billion worth of Bitcoin—about 6.9 million coins—could be vulnerable if advanced quantum computers crack blockchain cryptography, EU financial watchdogs said in a new risk report.
Older and reused Bitcoin addresses face the greatest exposure because their public keys are already visible onchain, potentially letting a sufficiently powerful quantum machine derive private keys and seize the coins.
Bitcoin cannot patch the problem like a bank system: shifting to quantum-resistant signatures would need network-wide consensus, and holders of exposed coins would have to move funds before any attack becomes feasible.
The regulators said the danger could arrive before quantum computing has a viable commercial market, while also warning of 'harvest now, decrypt later' attacks on data collected today.
The warning aligns with the European Commission's post-quantum roadmap, which tells member states to start transitions by end-2026 and protect high-risk uses by 2030.