Coinbase Warns of Quantum Computing’s Potential Threat to Crypto

A Coinbase-backed advisory report said the public-key cryptography currently underpinning blockchains including Bitcoin, Ethereum and Solana remains secure in the near term. However, future fault-tolerant quantum computers could potentially derive private keys and put assets at risk, making early planning for a transition to post-quantum cryptography essential.

The latest report highlighted steps by Algorand and Aptos to reduce quantum risks and urged ecosystems including Ethereum and Solana to begin assessing upgrade paths for protocols and wallets. It gave no specific date for the threat, investment figure or migration deadline. Its focus was on establishing testing and transition plans before quantum computers gain the ability to break existing cryptography.