Quantum threat looms over $3 trillion in digital assets

A new report from Project Eleven warns that over $3 trillion in digital assets secured by elliptic curve cryptography could be vulnerable to quantum attacks within four to seven years. The report estimates a 'Q-Day,' when quantum computers can break current public-key cryptography, could arrive as early as 2030 and no later than 2033. This poses a significant risk not only to cryptocurrencies like Bitcoin and Ethereum but also to broader financial systems, banking infrastructure, cloud services, and military communications. The primary challenge for migration to post-quantum cryptography is not technical limitations but the immense coordination required across users, institutions, and networks, a process that could take a decade.