Your lost crypto might not be gone forever if quantum computers decide to show up, Elon Musk has joked.
That came after Google Quantum AI on Monday released a new whitepaper warning that future quantum computers could break crypto security faster than previously estimated.
The research shows fewer qubits and gates are needed to crack elliptic curve cryptography, making the shift to post-quantum cryptography (PQC) urgent.
Researchers have noted that millions of Bitcoin in old wallets with lost keys could potentially be unlocked once quantum computers become powerful enough.
In that scenario, anyone with access to a sufficiently advanced quantum computer could recover the coins, including the original owners, and naturally, there is no guarantee of early access.
According to Google, these dormant holdings, worth tens of billions, may become a “fixed prize pool” for attackers, with little ability to prevent theft in a decentralized system.
To disclose these risks safely, researchers propose zero-knowledge proofs that verify vulnerabilities without enabling attacks. Recommendations include updating blockchains to PQC, securing wallet addresses, and exploring policy solutions for abandoned coins.
Musk has been increasingly engaged with the Bitcoin community over the past two days.
Just yesterday, he surprised the crypto community by transforming a static Bitcoin-inspired anime illustration into a short animated clip.
Source: https://cryptobriefing.com/elon-musk-quantum-computing-impact-bitcoin-ethereum/
