Project Eleven warns $3tn in digital assets face quantum attack risk
Updated
Updated · CoinDesk · May 9
Project Eleven warns $3tn in digital assets face quantum attack risk
11 articles · Updated · CoinDesk · May 9
Its 110-page report says a “Q-Day” could come as early as 2030 and no later than 2033, exposing blockchains, banking systems, cloud infrastructure and military communications.
The report says elliptic-curve cryptography securing bitcoin, ether and stablecoins could be broken, enabling theft and forged signatures, while migration to post-quantum cryptography may take five to more than 10 years.
Project Eleven argues the main obstacle is coordinated, costly action across users, exchanges, custodians, wallet providers and miners, with Bitcoin seen as especially hard to upgrade because past changes were slow and contentious.
With $500B in Bitcoin at risk, will its community sacrifice immutability to prevent a quantum heist?
As governments race to secure data, are corporations ignoring the 'Harvest Now, Decrypt Later' time bomb?
Quantum Computing vs. Crypto: How $3 Trillion in Digital Assets Face Imminent Risk and What the Industry Is Doing
Overview
Quantum computing is creating an urgent threat to digital assets, as highlighted by a critical warning in May 2026. While the internet has already started adopting quantum-resistant solutions, the digital asset industry—especially blockchains that protect value using cryptographic methods vulnerable to quantum attacks—has barely begun to prepare. Project Eleven’s report, along with its collaboration with the Solana Foundation, underscores the gap in readiness and the need for immediate action. Since most blockchains rely on Elliptic Curve Cryptography, they face significant risks, making it crucial for the crypto sector to address these unique vulnerabilities before quantum computers become powerful enough to break current protections.