Binance CSO says crypto faces no immediate quantum threat

Binance Chief Security Officer Jimmy Su said current quantum computers cannot break the cryptography protecting major digital assets, including Bitcoin and Ethereum, while warning that the industry needs to prepare before that changes. Summary Binance says quantum computers lack the scale and reliability needed to break cryptocurrency cryptography. Google estimates future attacks on 256-bit elliptic curves could require under 500,000 physical qubits eventually. NIST has finalized three post-quantum standards and recommends organizations begin migration before cryptographic threats emerge. Bitcoin industry firms pledged $15 million over three years to support security and quantum research. Sui plans quantum-safe vaults this year and native post-quantum account authentication during 2027 mainnet rollout. Su addressed the issue in an Aug. 11 Binance post covering five common questions about quantum computing. Su said “current quantum computers are nowhere near the scale and reliability needed to break the cryptography protecting digital assets.” He described quantum computing as a long term security concern rather than an immediate threat to users. Is quantum computing a real threat t...