BRUSSELS, 7th October, 2026 (WAM) -- The European Union Agency for Law Enforcement Cooperation (Europol) has warned of future risks posed by quantum computing to cryptocurrencies and encrypted digital data, urging organisations, governments and the cryptocurrency industry to begin preparing now.
Europol published two new reports examining the implications of expected advances in quantum computing capabilities, including the potential to undermine the cryptography protecting cryptocurrency wallets and decrypt sensitive information collected and stored today for future exploitation.
The agency said the timing of quantum capabilities powerful enough to carry out such attacks remains uncertain, noting that adapting systems and coordinating security upgrades will take time, making early action and greater “crypto-agility” essential.
Europol's report on quantum computing and cryptocurrencies identifies the cryptographic keys used to control cryptocurrency wallets and authorise transactions as the primary point of exposure. A sufficiently powerful quantum computer could eventually derive a private key from an exposed public key, potentially allowing an attacker to transfer funds without the owner's permission.
By contrast, the agency said the cryptographic hash functions underpinning important aspects of blockchain integrity are comparatively resistant to quantum attacks, underscoring the need to focus protective measures on the areas most vulnerable to such threats.
A separate report jointly developed by Europol and University Carlos III of Madrid (UC3M) warned of the “Harvest Now, Decrypt Later” approach, under which attackers could collect and store encrypted information today with the intention of decrypting it when more advanced computing capabilities become available.
The report said the risk is particularly relevant to information requiring long-term protection, including government communications, intellectual property, medical records and law enforcement files, while noting that there is currently no clear evidence that the technique is being systematically exploited at scale.
Europol urged organisations to identify where cryptography is used, assess which data requires long-term protection and plan a phased transition to post-quantum cryptography, while ensuring interoperability with existing cryptographic systems.
The agency also stressed the importance of improving wallet security and key management in the cryptocurrency sector and strengthening cooperation among blockchain developers, wallet providers, policymakers and users to ensure a coordinated transition to technologies that are more resistant to future threats.