Europol urges early action on quantum threats to crypto and sensitive data

Europol is publishing two reports on the security challenges posed by quantum computing and is urging organisations, policymakers and the cryptocurrency industry to begin preparing now. The agency says the reports examine how future quantum capabilities could undermine the cryptography that protects cryptocurrency wallets.

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The reports also warn that attackers could potentially decrypt sensitive information that was collected years earlier if quantum advances make current protections obsolete. Europol is presenting the issue as an active security planning problem for both public and private actors.

The warning is directed at organisations, policymakers and the cryptocurrency industry. Europol's message is that preparation should start before quantum capabilities reach the point where they can break existing encryption safeguards.

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