Google Warns: Bitcoin and Ethereum at Risk from Quantum Computers; Hacking Threat Closer Than Expected..

New research from Google has sent shockwaves through the crypto world. This report warns that future, immensely powerful, and advanced "quantum computers" could hack the security of cryptocurrencies—such as Bitcoin and Ethereum—much sooner and more easily than we previously anticipated.

**The Threat Is Far Closer Than Expected**
Previously, experts believed that breaking crypto's robust security (known as cryptography) would require a massive and powerful quantum computer—a machine that would take many years to build. However, this new study reveals that this task could be accomplished using a quantum computer with just one-twentieth (1/20th) of the power previously estimated. Simply put, the threat of crypto being hacked—which we once perceived as a distant future concern—could become a reality much sooner than we ever imagined.

**Shocking Revelations from the Research Paper**
Researchers from Google Quantum AI, the Ethereum Foundation, and Stanford University have made a startling revelation in their report. According to them, an advanced quantum computer could steal your Bitcoin password (private key) in just nine minutes. This research primarily categorizes potential attacks carried out by hackers into three distinct types.

The first method is an "attack on in-flight transactions," wherein a hacker can steal your funds within 10 minutes while you are in the process of sending crypto to someone, and the transaction is still being processed. The second method is an "attack on dormant wallets," which targets wallets that have remained inactive for years or whose data has already been compromised. The third method involves "exploiting system vulnerabilities," where hackers weaponize inherent flaws within the blockchain network's fundamental design to execute a hack.

**Why Are Quantum Computers So Dangerous for Crypto?**

Quantum computers pose such a significant threat to the crypto world because cryptocurrencies operate on a specific mathematical formula. This formula ensures that—even though your account address (public key) is visible to everyone—your password (private key) remains completely secure. However, the core problem is that quantum computers are so sophisticated and powerful that they can easily crack even this complex mathematical formula. If this were to happen, hackers could deduce your password solely from your public address, and your entire funds would vanish. Since, unlike traditional banks, retrieving funds once they have left a blockchain is impossible, this constitutes a massive risk. Furthermore, the greatest danger lies with "dormant wallets"—wallets containing millions in funds whose owners have long since forgotten their passwords. The moment quantum computers become fully operational, hackers will likely target these inactive wallets first, completely draining them of their contents.

What is the way to mitigate this threat?
To counter this threat, researchers have primarily proposed two methods. Regarding a definitive cure—or a long-term solution—the entire crypto industry must adopt a new technology known as "post-quantum cryptography." This new security system is designed to be impervious to hacking, even by quantum computers. Meanwhile, as an immediate or short-term measure, researchers advise that until this new technology is fully implemented, users should minimize the sharing of their "public keys." Additionally, users should avoid reusing the same "key" repeatedly and must always maintain robust security protocols for their wallets.

What do crypto industry leaders have to say?
Despite such grave warnings, the major figures in the crypto world remain unperturbed. Changpeng Zhao, the former CEO of Binance, stated: "There is no need to panic. We simply need to upgrade our systems to meet new security standards. However, older projects that fail to upgrade themselves will inevitably perish." Meanwhile, taking a playful jab in his signature witty style, Musk remarked, "One benefit of this is that those who have forgotten the passwords to their crypto wallets will be able to easily access them in the future with the help of quantum computers!"

Disclaimer: This content has been sourced and edited from Amar Ujala. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.