Europol Warns Of Quantum Computing Threats To Cryptocurrencies, Sensitive Data
Muhammad Irfan Published October 07, 2026 | 04:30 PM
BRUSSELS, (UrduPoint / Pakistan Point News / WAM - 07th Oct, 2026) The European Union Agency for Law Enforcement Cooperation (Europol) has warned of future risks posed by quantum computing to cryptocurrencies and encrypted digital data. It urges organizations, governments, and the cryptocurrency industry to start preparing now.
Europol published two reports examining the implications of expected advances in quantum computing capabilities, including the potential to undermine cryptography protecting cryptocurrency wallets and decrypt sensitive information for future exploitation.
The agency noted that while the timing of powerful enough quantum capabilities remains uncertain, adapting systems and coordinating security upgrades will take time, emphasizing the need for early action and greater "crypto-agility."
Key Takeaways:
- Cryptocurrency Wallets at Risk: Europol's report identifies cryptographic keys used in cryptocurrency wallets as primary vulnerabilities to quantum attacks.
- Resistant Blockchain Hash Functions: While blockchain integrity hash functions are more resistant to quantum threats, they still require protection.
- "Harvest Now, Decrypt Later" Threat: A separate report warns of attackers collecting and storing encrypted data now for decryption later when stronger quantum computers become available. This poses a risk to long-term protected information like government communications, medical records, and law enforcement files.
Recommendations by Europol:
- Identify uses of cryptography within organizations.
- Assess which data requires long-term protection.
- Plan a phased transition to post-quantum cryptography while ensuring interoperability with existing systems.
- Improve wallet security and key management in the cryptocurrency sector.
- Strengthen cooperation among blockchain developers, wallet providers, policymakers, and users for a coordinated transition to more resilient technologies.