New research by Google shows that quantum computers can crack cryptography on Bitcoin and Ethereum 20 times faster than thought. The attack will require less than 500,000 kubitas. The threat is approaching faster than the crypto community anticipated.

The simulation showed: a quantum computer can extract a private key from a public one in 9-12 minutes - exactly the time it takes to confirm a block on a Bitcoin network. This allows funds to be stolen before the transaction completes.

Ethereum is still vulnerable: the public key stays in the blockchain forever. The hacker can calculate the key without any rush. Google plans to switch to post-quantum cryptography by 2029. The Ethereum Foundation already published a post-quantum transition roadmap back in February.