Europol Warns of Quantum Threats to Cryptocurrency Wallets

• •Europol reports crypto wallets as primary vulnerabilities to quantum attacks.
• •Advanced quantum computers could derive private keys from public keys, enabling unauthorized transactions.
• •The 'harvest now, decrypt later' tactic allows attackers to store encrypted data for future decryption.

On October 7, 2026, Europol released two reports highlighting the vulnerabilities of cryptocurrency wallets to future quantum computing threats. The reports emphasize that advanced quantum computers could exploit weaknesses in public-key cryptography, potentially allowing unauthorized access to funds. Europol advises a proactive transition to quantum-resistant cryptography to mitigate these risks. The second report discusses the 'harvest now, decrypt later' tactic, where attackers collect encrypted data today for future decryption when quantum capabilities improve. This poses a significant risk to sensitive data that must remain confidential for years. Approximately 6.9 million Bitcoin in legacy addresses could be at risk due to these vulnerabilities. Europol calls for coordinated efforts among blockchain developers, wallet providers, and policymakers to enhance security measures. The urgency of these reports is underscored by a recent alert from the Joint Committee of European Supervisory Authorities regarding the potential hazards of quantum advancements.