Google tells how to hack bitcoin

BlackRock has warned of a potential threat to bitcoin security in the event of a breakthrough in quantum computing. The report filed with the US Securities and Exchange Commission states that quantum computers of the future could crack the cryptographic mechanisms that underpin the security of the bitcoin network and digital assets in general.

According to BlackRock analysts, attackers can use quantum hacking technologies to access crypto wallets of both institutional investors and private users. This creates a risk of large financial losses and may affect the value of bitcoin, as well as reduce confidence in the cryptocurrency market in general.

The document also states that the crypto community is already working on implementing cryptography that is resistant to quantum attacks. However, such solutions require a broad consensus among network participants and may take considerable time to develop and implement.

Additional concerns are raised by recent research by Google, which claims that breaking RSA encryption, which protects most crypto wallets, requires 20 times fewer quantum resources than previously thought. This increases the likelihood that real threats could emerge faster than current estimates predict.

Earlier, there were also reports that Chinese researchers had successfully used quantum computers to crack some cryptographic algorithms. All of this emphasizes the need to urgently update security standards in the cryptocurrency sector to prevent a potential catastrophe.