Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Quantum computer breaches encryption, raising concerns in crypto

Quantum computer breaches encryption, raising concerns in crypto

GrafaGrafa2024/10/14 04:25
By:Mahathir Bayena

Researchers from Shanghai University, led by Wang Chao, have announced a significant breakthrough in breaching cryptographic algorithms using a quantum computer.

According to a report by the South China Morning Post (SCMP) on October 11, the team targeted encryption algorithms such as Present, Gift-64, and Rectangle—core components of encryption structures like AES, which secure cryptocurrency wallets.

This achievement, made possible through quantum annealing, marks the first instance where a quantum computer poses a "real and substantial threat" to modern encryption systems.

The research team used a quantum computer developed by D-Wave Systems to carry out the attack.

Quantum annealing allows the computer to find optimised solutions more efficiently than traditional methods by bypassing barriers through quantum tunneling.

While the researchers demonstrated the potential to challenge encryption algorithms, including the highly secure AES-256 standard, environmental and hardware limitations currently prevent a full-scale quantum attack.

Although this breakthrough signals a future threat, the attack did not reveal specific passcodes, and no single algorithm capable of breaching multiple systems has been discovered.

This development has raised concerns within the cryptocurrency industry, as quantum computing's ability to break encryption could expose wallets and funds to theft.

Quantum computing has long been considered a looming threat to cryptography, and these findings indicate that future advancements could intensify this risk.

Ethereum (CRYPTO:ETH) co-founder Vitalik Buterin has proposed a preemptive solution to mitigate quantum threats through a hard fork of the Ethereum blockchain.

He suggested that users would need to download new wallet software, which could be implemented before quantum threats become widespread, offering a potential safeguard for the future.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Subscribe to TANSSI Savings and enjoy up to 15% APR

Bitget Announcement2025/07/15 11:00

TACUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/15 10:40

Bitget Spot Bot adds PUMP/USDT

Bitget Announcement2025/07/15 08:00