Europol Warns Quantum Computing Could Put Crypto Wallets and Encrypted Data at Risk

Highlights:

• Europol warns quantum computers could threaten cryptocurrency wallets by exposing private keys used to control digital assets.
• The agency urges crypto companies and institutions to begin adopting post-quantum security before current encryption becomes vulnerable.
• Europol also warns attackers may store encrypted data today and decrypt it later using powerful quantum computers.

Europol, the European Union’s law enforcement cooperation agency, has warned that future quantum computers could threaten cryptocurrency wallets and expose sensitive encrypted data. The agency is urging crypto companies, policymakers, and other organizations to start preparing before quantum technology becomes powerful enough to challenge current cryptographic systems.

Europol published two reports on October 7, 2026, examining the security risks linked to quantum computing. The agency said the exact timing of a serious quantum threat remains uncertain. However, upgrading existing systems could take years. As a result, Europol wants organizations to begin planning their transition to post-quantum cryptography early. The agency said “crypto-agility should be pursued proactively” so systems can adapt to new security threats without waiting for an emergency.

JUST IN: Europol warns Bitcoin & crypto wallet keys face quantum risk.

​• Only exposed public keys are at risk

• No timeline projected

• Nothing new—no reason to panic

​Do not reuse addresses! pic.twitter.com/Ig9gB0ZN2X

— Bitcoin Archive (@BitcoinArchive) October 7, 2026

Crypto Wallet Private Keys Face the Main Quantum Risk

One report, “Quantum Computing and Cryptocurrencies – Bridging Technical Expertise and Decision-Making”, focuses on digital assets. Europol’s European Cybercrime Centre developed the report to examine how quantum computing could affect cryptocurrencies.

According to Europol, cryptocurrency wallets are a major area of concern. Crypto owners use private keys to control their assets and approve transactions. Public keys, meanwhile, form part of the cryptographic system that allows blockchain transactions to work securely. A sufficiently powerful quantum computer could potentially calculate a wallet’s private key from an exposed public key. An attacker could then gain control of the wallet and transfer cryptocurrency without the owner’s approval.

However, Europol does not suggest that quantum computing will automatically cause Bitcoin or other cryptocurrencies to collapse. The agency said blockchain hash functions are comparatively more resistant to quantum attacks. Therefore, the biggest concern is the cryptographic keys used to control wallets rather than every part of blockchain technology.

Europol recommends a gradual shift toward quantum-resistant cryptography. Developers and wallet providers should also improve key management and wallet security. Still, upgrading decentralized blockchain networks could be difficult because developers, service providers, users, and other participants may need to coordinate changes.

Europol Warns About ‘Harvest Now, Decrypt Later’ Attacks

The second report focuses on another threat known as “Harvest Now, Decrypt Later.” Europol developed the research with University Carlos III of Madrid. Under this approach, attackers could steal or collect encrypted information today and store it for years. They could later try to decrypt the information once quantum computers become powerful enough to break the encryption protecting it.

Potential targets include government communications, intellectual property, medical records, law enforcement information, and other data that must remain confidential for a long time. Europol said there is currently no clear evidence that such attacks are being systematically carried out at scale. Collecting and storing large amounts of encrypted information would also require significant technical and storage resources.

Europol Calls for Early Post-Quantum Security Planning

Europol wants organizations to identify where they use cryptography and determine which systems face the greatest long-term risk. It also recommends removing outdated security protocols, improving key management, limiting unnecessary data storage, and testing post-quantum cryptography.

This comes after Europol’s efforts in quantum security. In January, Europol, together with other agencies, published guidelines for financial organizations on how they can migrate to post-quantum cryptography.

Early preparation could help developers protect wallets and blockchain systems before quantum computing becomes a practical security threat. Europol is calling for coordinated upgrades rather than waiting until existing cryptography becomes vulnerable.