G7 Warns Crypto Industry: Quantum Breakthrough Imminent
The Group of Seven's cybersecurity working group has issued a warning to the crypto industry about the need for post-quantum cryptography. The report, titled 'Preparing for the Post-Quantum Era: A Call to Action,' emphasizes that quantum computers are expected to break current public-key cryptography mechanisms and threaten digital infrastructures.
The advisory carries particular urgency for the cryptocurrency industry, where public-key cryptography underpins everything from wallet security to transaction authorization. The network's upgrade path is complicated by governance debates, technical constraints, and the permanent visibility of on-chain data.
The working group highlighted the 'harvest now, decrypt later' strategy, which allows attackers to collect encrypted data today and store it until quantum capabilities mature sufficiently to unlock it. For blockchains, this vulnerability is amplified because public keys and transaction histories remain visible forever, potentially exposing older wallets to retrospective attacks years after funds were moved.
The European Union has already converted the quantum threat into regulatory requirements, with a Coordinated Implementation Roadmap for the Transition to Post-Quantum Cryptography adopted in June 2025. All member nations must begin their transitions by the end of 2026, and high-risk entities are required to complete migration before 2030.