Europol Reports on Quantum Computing's Impact on Bitcoin Security

Europol's European Cybercrime Centre (EC3) released two reports on October 7, 2026, addressing the implications of quantum computing for cryptocurrencies and encrypted data. The agency concluded that while quantum computing poses risks, it will not lead to the collapse of cryptocurrencies like Bitcoin. The reports emphasize that the blockchain's integrity remains intact due to its reliance on hash functions, such as Bitcoin's SHA-256, which are largely resistant to quantum attacks.

However, the reports highlight a significant vulnerability: approximately 30% of Bitcoin, equating to 6 to 6.9 million BTC, is held in addresses with exposed public keys. This exposure could allow a sufficiently powerful quantum computer to derive the corresponding private keys, enabling unauthorized transactions. Europol warns that the only effective defense against this risk is for holders to proactively migrate their funds to secure wallets before quantum technology becomes a threat.

Europol advocates for the phased adoption of post-quantum cryptography (PQC) and wallet upgrades to enhance security. Yet, the agency notes that coordinating such a migration poses challenges, as Bitcoin lacks a central authority to enforce updates. The report estimates that migrating all unspent transaction outputs could take over 76 days of cumulative processing time, raising concerns about the feasibility of securing exposed addresses before quantum computers become operational.

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Source: KLEA News