Quantum computers will be able to hack bitcoin wallets

[root]

Quantum computers will be able to hack bitcoin wallets​

While quantum computing is still in its infancy, governments and private sector companies like Microsoft and Google are working to bring these ideas to life. Within a decade, quantum computers could become powerful enough to crack the cryptographic security of mobile phones, bank accounts, email addresses, and bitcoin wallets.

Currently, so-called asymmetric cryptography is used around the world, which uses a pair of private and public keys to access such accounts and crypto wallets.

“Every financial institution, every authorization to the system on the phone is based on asymmetric cryptography, which is vulnerable to being hacked by a quantum computer,” explained former CEO of Utimaco Fred Thiel, which has worked with Microsoft, Google and other tech giants on post-quantum encryption. ...

Cryptocurrency experts told CNBC that they are not worried about the quantum hacking of bitcoin wallets.

“We would have many warnings if quantum computing reached the stage of maturity and perfection where it began to threaten our core cryptographic algorithms. However, this will not happen overnight, ”explained Nic Carter, co-founder of Castle Island Ventures.

The cybersecurity community, including the National Institute of Science and Technology (NIST), is well aware of this issue and is already in the process creation quantum secure cryptography.

The first standard quantum secure cryptographic algorithm is expected to be released by 2024. This will happen long before the world sees a quantum computer capable of breaking bitcoin cryptography, experts say. As soon as a new standardized post-quantum secure cryptography is created, the mass migration process will begin. Each owner of the cryptocurrency will transfer their funds to a new wallet or a new account protected by a more secure type of key.

A source

PS: from root, if this is so, then the time is coming that all your files will be decrypted (what you uploaded to the conditional Yandex disk and forgot), a change of era is coming, and what will happen if everything old becomes obvious? unlike the archives of special services, quantum computers will be able to unselect everything that you thought was securely encrypted. Therefore, no one uses the link to delete a file from the file hosting service. It looks like all file hosting services have become insecure, and if you have such files, I advise you to erase them

 

[OldWhiteCat]

There are several problems here. The encryption system today has a tremendous temporary strength. It is from a million years or so.
A quantum computer will be more powerful, even if 1000 times. Or 10,000 times. So what? A hundred-year durability for most tasks is almost absolute.
It's easier to just politely ask one of the parties what you discussed there
The second side is the price of the issue. How much does the "secret" itself cost to expend the resources of a quantum computer?

 

[Частный детектив. Армения. Ереван.]

I read about a quantum computer, I was surprised by its computing power. But will he be able to subtract all blockchain transactions? It's not even about the computer itself and power, it's about the algorithm itself

 

[Частный детектив Донецк]

I wonder if Quantum can decipher all this? It was interesting to read)

 

[Олег Юрьевич]

"... Within a decade, quantum computers could become powerful enough to crack the cryptographic security of mobile phones, bank accounts, email addresses, and bitcoin wallets. ... "
I am sure that by the time QCs can become so powerful, the IT security system will also not stand still, but will develop in parallel, and there will be a worthy answer for every such "challenge"))
Progress, however: cool:

 

[Kiril Harchevnikov]

Hacking Bitcoin wallets? How is this even possible?

 

[David Mamedov]

I think this is not possible. (I don't understand quantum pc myself, but still)

 

[David Mamedov]

Hacking Bitcoin wallets? How is this even possible?

The same questions I have

 

[OldWhiteCat]

In fact, hacking wallets has long been of interest not to fraudsters, they have other methods of obtaining money, but to the owners themselves. Today, about 20% of wallets are password-protected "forever", that is, passwords are stupidly lost. So estimate the price of the question. About 20 million bitcoins have already been mined.
So it was lost about 4 million, in dollars for today about 40,000 for bitcoin - 160 billion ...
Guess there is something to rustle over a quantum computer?

 

[Частный детектив. Москва.]

На самом деле взлом кошельков же давно интересен не мошенникам, у них другие методы добычи денег, а самим владельцам. На сегодня около 20% кошельков запаролены "навечно", то есть пароли тупо утеряны. Вот и прикиньте цену вопроса. Уже добыто около 20 миллионов биткоинов.
Утеряно стало быть около 4 миллионов, в долларах на сегодня примерно по 40000 за биткоин - 160 миллиардов...
Догадываетесь, что есть над чем пошуршать квантовому компьютеру?

Тот кто украл - мошенник. Владельцы пока не мере не все знают программирование и не умеют пользоваться "квантовым пк" . Как по моему они будут нанимать экспертов в этом деле