Google Quantum AI released a white paper on Tuesday, warning the cryptocurrency industry about threats that could crack encrypted wallets in less than 10 minutes under advanced quantum scenarios. The updated quantum resources from Google show a 20-fold improvement in the efficiency of cracking wallet encryption, putting roughly 1.7 million dormant Bitcoin (BTC) and 20.5 million dormant Ethereum (ETH) at risk.

Google flags how quantum could break crypto wallet encryption in under 10 minutes

Google’s division of quantum computing technologies, Google Quantum AI, released a white paper called “Safeguarding cryptocurrency by disclosing quantum vulnerabilities responsibly” on Tuesday, which is basically a warning to the cryptocurrency…