Binance Downplays Quantum Computing Threat to Crypto Holders

Binance's Chief Security Officer Jimmy Su has downplayed concerns that quantum computing poses an immediate threat to cryptocurrency holders.

Su emphasized that the current state of quantum computing remains far from achieving the capability to break real-world encryption, citing significant obstacles such as error rates and qubit stability.

The most common causes of actual fund losses are phishing attacks, malware, social media deception, account theft, and poor wallet management, Su said.

To protect their funds, users should focus on basic security hygiene, including using hardware wallets, enabling two-factor authentication, and avoiding suspicious links.