Quantum Computing’s Next Target: Bitcoin, SEC’s Crypto Crisis

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The U.S. SEC’s Crypto Asset Task Force, undoubtedly having a delightful time with all their pressing issues, is now reviewing a rather intriguing proposal-one that could save digital assets from the potentially catastrophic threats of quantum computing decryption. Oh, joy.

Summary

  • Daniel Bruno Corvelo Costa has come to the rescue with a proposal titled the “Post-Quantum Financial Infrastructure Framework,” which seeks to shield crypto assets from quantum computing attacks. How quaint.
  • Experts are ringing alarm bells over the ominous “Q Day,” when quantum computing will evolve to crack open Bitcoin wallets like a child opening a candy jar. Charming, isn’t it?

In the grand tradition of “better safe than sorry,” Costa has presented a roadmap to safeguard the “U.S. digital asset ecosystem” from the impending quantum apocalypse. According to him, a structured approach is absolutely necessary to ward off the terrifying threat of quantum computing. How reassuring.

“We believe that a structured approach is needed to neutralize the forward-looking threat of quantum computing,” said Costa, while likely sipping a calming chamomile tea. The proposal, spanning an entire 74 pages (because brevity is overrated), outlines how to upgrade crypto encryption to make it impervious to quantum attacks. Splendid.

If we do not take action, Costa warns that trillions of dollars in digital assets could be laid bare once quantum computing finally breaks through the current encryption defenses. Shocking. Absolutely shocking.

Among the clever suggestions in the proposal is the idea of automated vulnerability assessments for digital platforms. Oh yes, because we all know how much crypto enthusiasts love anything automated. Prioritizing institutional wallets and exchanges, and migrating to better cryptographic standards is also on the agenda. All this, of course, is coupled with a warning about the “Harvest Now, Decrypt Later” strategy. You can practically hear the ominous music in the background. 🎶

Quantum computing, for all its futuristic charm, is still considered a menacing threat to cryptocurrency. Once quantum computers amass enough computational power, they could crack open Bitcoin’s encryption faster than you can say “blockchain.” This fabled moment has already been named “Q Day,” because apparently, a little drama never hurt anyone.

“Establishing a quantum-resilient digital asset ecosystem is needed to secure investor assets and ensuring the long-term integrity of US capital markets,” Costa concludes in his proposal, while the rest of us wonder if we’ll ever get to enjoy a cup of tea without worrying about quantum attacks.

How much time do we have until quantum computing cracks Bitcoin?

In an enlightening conversation with crypto.news, the founder of Naoris Protocol, David Carvalho, gave us the delightful news that the time left before quantum computing hacks into Bitcoin’s encryption might be less than you think. Oh, joy.

According to Carvalho, we could see quantum computing catch up in under five years. Because why take your time when you can rush straight into digital disaster? 😅

Once quantum computers reach their full potential, they could target large dormant wallets, such as Satoshi’s hidden Bitcoin stash. How heartwarming. The worst part? Once the encryption is cracked, those wallets won’t stand a chance.

“The most frightening thing about quantum is that when we get to “Q-Day”, the attacks will be swift, quite possibly simultaneous, and certainly devastating,” Carvalho warned, as we all secretly dread the thought of hackers having a field day with our Bitcoin. 😱

He also mentioned that “retroactive” attacks would be a real kicker, meaning even signed and executed transactions could be compromised. Isn’t that just the cherry on top? 🍒

As for the world’s best hope in navigating this impending crisis? Well, according to Carvalho, we’re all looking at BlackRock and the U.S. government. Best of luck to them, and to us all. 🙄

Recently, a quantum computer in China managed to break through a 22-bit RSA integer using, you guessed it, quantum computing. Isn’t that just a delightful teaser for things to come? And back in May, BlackRock itself issued a warning about Bitcoin’s encryption security risks. Lovely.

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2025-09-04 14:54