Europol Warns Crypto Wallets Face Severe Quantum Attack Risks

Europol has warned that quantum computing could threaten the crypto industry, with wallet keys seen as the main risk. The agency is urging developers, wallet providers, and users to prepare for stronger security before quantum attacks become possible.

In two new reports, Europol explained how quantum computers could put crypto assets and sensitive data at risk.

Crypto Wallet Keys Face the Biggest Risk

On 7 October 2026, Europol’s European Cybercrime Centre published a report on how quantum computing could affect cryptocurrencies.

The report says the main risk comes from the keys used to control crypto wallets and approve transactions. A powerful quantum computer could potentially use an exposed public key to find the private key. 

Bitcoin is among the networks that could face this problem. 

More than 4.3 million BTC, worth over $360 billion, are held in older Bitcoin addresses that expose public keys. This includes an estimated 1.1 million BTC linked to Satoshi Nakamoto.

Modern Bitcoin addresses provide stronger protection, but public keys can still become visible when transactions wait for confirmation. A future quantum computer could use this window to attack the funds.

Therefore, Europol is urging developers and wallet providers to start moving to post-quantum security before quantum attacks become a real threat.

Europol Warns of “Harvest Now, Decrypt Later” Risk

Europol’s second report examines another threat known as “harvest now, decrypt later.” 

In this scenario, attackers collect encrypted information today and store it until future technology can break the encryption. The report found no clear evidence that this method is currently being used systematically at scale. 

However, sensitive information that must remain private for years could still become a target.

Europol’s message is simple, starting the transition early could give the crypto industry more time to protect funds and avoid rushed security upgrades later.