YOUR BITCOIN CAN BE STOLEN !!!

The ‘attack of the qubits’.

From here;

Bitcoin’s Taproot could make quantum attacks easier than expected, new Google research says

‘Breaking Bitcoin with quantum may be easier than thought, with Taproot partly to blame, Google says’

‘The findings suggest attackers could one day steal bitcoin mid-transaction, challenging assumptions that the threat is decades away.

‘What to know:

• Google researchers say breaking Bitcoin and Ethereum’s cryptography may require fewer than 500,000 physical qubits and roughly 1,200–1,450 high-quality qubits for practical attacks, far below earlier estimates in the millions.

• The paper warns that real-time quantum attacks could hijack in-flight Bitcoin transactions in about nine minutes, potentially beating confirmation about 41% of the time and putting some 6.9 million already-exposed bitcoin at risk.

• Bitcoin’s Taproot upgrade, which makes public keys visible by default, may widen the pool of vulnerable wallets, prompting Google to urge earlier post-quantum migration even as it stresses that quantum attacks are not yet imminent.

Breaking Bitcoin’s blockchain with quantum computers may not be as difficult as once thought, and Bitcoin’s Taproot technology, which enables more efficient, private transactions, may be partly to blame, Google’s Quantum AI team said Monday in a blog post and newly published whitepaper.

The team said the computing power required to break Bitcoin’s security may be far lower than previously assumed, raising fresh questions about how soon quantum threats could become a reality.’

Hmmm!

‘In a new whitepaper, researchers found that cracking the cryptography used by Bitcoin and Ethereum could require fewer than 500,000 physical quantum bits, or qubits, well below the “millions” often cited in recent years.

Google has previously pointed to 2029 as a potential milestone for useful quantum systems, saying migration needs to come before that, making the paper’s finding that attacks may require less computing power more significant.

Quantum computers use qubits instead of traditional bits and can solve certain problems much faster than today’s machines. One of those problems is breaking the type of encryption that protects crypto wallets.

Google said it designed two potential attack methods, each requiring roughly 1,200 to 1,450 high-quality qubits. That is a fraction of earlier estimates and suggests the gap between current technology and a viable attack may be smaller than investors think.’

The ‘attack of the qubits’. More ‘wonkiness’ detail in the link.

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