A recent report has warned that cryptographic foundations that secure trillions of dollars in digital currency can be hacked by quantum computers within the next four to seven years, and the blockchain industry is not prepared for damage control.
About quantum computing and threats
Project Eleven, a quantum security firm, published a report that said these quantum computers, even one, is powerful enough to hack the elliptic curve digital signatures securing Ethereum, Bitcoin, and other big blockchains. Experts say they won’t exist beyond 2033, and may end soon by 2030. The window for action is closing fast. According to the report, “Migration to quantum-resistant cryptography is no longer optional but imperative for any blockchain system expected to be trusted and secure into the future."
Why is quantum computing so fast?
Recent innovations have significantly lowered the hardware bar needed to launch such attacks. A breakthrough Google paper said that breaking the elliptic curve cryptography threshold could be achieved within 1,200 logical cubits, and less than 90 minutes of computing time on a supercomputing hardware.
Google has put a Q-Day (like D-day) at 2032. Project Eleven’s research has decreased the timeline by two years: 2030. The report estimates that 6.9 million Bitcoin (one third of the total estimated supply) have already been leaked on-chain, exposed to the potential quantum attack. For ETH, exposure is more, with over 65% of all ETH held in quantum-exposed addresses.
Why are blockchains weak against quantum computing?
The public ledgers and bearer-instruments offer no security. Blockchains has no scam department, no redressal platform for stolen funds, and no chargeback measures. If a quantum hacker recovers a private key and steals money, the loss is permanent. The transition problem is further fouled by slow-moving blockchain governance.
What makes blockchains particularly vulnerable, the report explains, is that their public ledgers and bearer-instrument design offer no safety net. Unlike a bank, a blockchain has no fraud department, no chargeback mechanism, and no way to reverse a forged transaction. Once a quantum attacker recovers a private key and drains a wallet, the loss is permanent.
Why is crypto migration difficult?
Bitcoin SegWit upgrade took more than two years to complete whereas ETH’s transition of proof stake took around 6 years to build. Quantum migration reaches the most basic layer of any blockchain mechanism.
The tech world has already started moving. More than half of web traffic (human) is currently post-quantum encrypted, Cloudflare data from December 2025 said.
Is the digital industry prepared?
The digital asset industry lacks preparedness. Crypto developers are suggesting various proposals but these plans will take years to execute while the threat is already brushing businesses and users.
"The internet has already moved," the report added. "The digital asset industry—which arguably has more at stake because blockchains directly protect bearer value with the exact cryptographic primitives that quantum computers threaten—has barely started."