Law enforcement in the EU calls for immediate action from developers, exchanges, and users to transition to post-quantum security measures to safeguard against potential unauthorized access.
By Olivier Acuna|Edited by Jamie CrawleyOct 7, 2026, 9:20 a.m. EDT2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Europol has issued a report highlighting the risks posed to cryptocurrencies by quantum computing. (Planet Volumes/Unsplash)SummaryShow- Europol identified cryptocurrency wallets as the main vulnerability in future quantum computing attacks, while noting that the necessary quantum computers do not yet exist.
- Approximately 6.9 million bitcoins are stored in wallets with exposed public keys, including many inactive wallets whose private keys could potentially be accessed by advanced quantum computers.
- The agency emphasized the urgency for the industry to start transitioning to quantum-resistant security measures to prevent future breaches.
According to a report released by Europol, cryptocurrency wallets are the primary targets for potential quantum-computing attacks, rather than the blockchains themselves.
Currently, quantum computers capable of executing such attacks are not available, and Europol refrained from making any predictions regarding their arrival. The agency stated that “proactive adaptation, rather than systemic collapse, is the most likely outcome.”
Europol is urging the cryptocurrency sector to embark on a gradual transition towards quantum-resistant technologies, which includes upgrading wallets and implementing post-quantum cryptography while ensuring coordination among developers, miners, exchanges, and users.
Experts in the Bitcoin community expect that by 2029, credible plans for quantum-resistant migration should be established. IBM has indicated that it anticipates significant commercial advancements in quantum computing within the next two to four years.
A sufficiently advanced quantum computer could derive a private key from a public key, thereby allowing unauthorized access to the associated funds, as noted in Europol’s report on Quantum Computing and Cryptocurrencies.
The report also aimed to clarify a common misconception regarding quantum threats: while hash functions securing the blockchain are more resistant to quantum attacks, public-key cryptography that governs wallet access is much more vulnerable.
“Cryptocurrencies will not collapse due to quantum computing,” Europol reassured. The immediate threat lies in the ownership of assets contained in wallets, not the capability of a quantum computer to alter the Bitcoin blockchain.
This distinction is particularly crucial for addresses from the early days of Bitcoin, known as the "Satoshi era," where public keys have become visible on the blockchain. A powerful quantum computer could potentially exploit these keys to derive their corresponding private keys. Notably, about 6.9 million bitcoins are stored in wallets with exposed public keys, including many early outputs and dormant holdings.
Europol highlighted that once keys are exposed, they cannot be retroactively secured, leading to extensive discussions within the Bitcoin community regarding whether to freeze assets in Satoshi-era wallets as the quantum threat approaches.
Updating the network to quantum-resistant standards poses a greater challenge. Europol referenced a 2024 study suggesting that converting all bitcoin unspent transaction outputs (UTXOs) to a quantum-safe format would require at least 76 days of cumulative block space. Allocating 25% of each block for this migration could extend the process to around 300 days.
New post-quantum signature protocols may be significantly larger than the current Elliptic Curve Digital Signature Algorithm (ECDSA) used for Bitcoin, which verifies ownership and authorizes transactions.
The challenge for Bitcoin lies not in the identification of new cryptography but in convincing a decentralized global network to adopt it before exposed wallets become vulnerable to attacks.
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