Cryptocurrencies are increasingly embedded in the global financial and economic mainstream. One reason is that its security encryption, distributed ledger technology, or blockchain, is largely impervious to conventional cyber-attack or theft. However, thanks to Shor’s algorithm, cryptocurrencies will be exceptionally vulnerable to a future quantum computing attack. What makes crypto vulnerable to Shor’s algorithm is elliptic-curve cryptography, which applies to all distributed ledger technology. Based on our research, the overall cost of a major hack and devaluation of Bitcoin alone would equal $3 trillion plus. Fortunately, solutions already exist: post-quantum cryptography and quantum computing. Cryptocurrencies are here to stay. However, supporting crypto security with post-quantum cryptography or quantum cryptography will enable cryptocurrencies to remain a mainstay of the global financial system for many decades to come.
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US President Donald Trump reacts after signing executive orders imposing tariffs on imported goods in the Rose Garden at the White House on April 2, 2025, in Washington, DC. (Andrew Harnik via Getty Images)