Fireblocks CEO Says Bitcoin Can Shift Before 2030 Quantum Risk as $292 Million Hacks Loom Larger
Updated
Updated · Decrypt · May 13
Fireblocks CEO Says Bitcoin Can Shift Before 2030 Quantum Risk as $292 Million Hacks Loom Larger
2 articles · Updated · Decrypt · May 13
Michael Shaulov said Bitcoin’s move to post-quantum signatures is mainly a coordination challenge, arguing the needed algorithms already exist and the network has changed signature schemes before.
2030 has emerged as an earlier estimate for “Q-Day,” after Project Eleven said cryptography-breaking quantum machines could arrive two years sooner than some Google researchers projected.
Shaulov said North Korean-linked attacks worry Fireblocks more right now, citing the recent $292 million Kelp DAO exploit as a bigger brake on institutional crypto adoption than price swings.
Privacy remains the bigger long-term hurdle for corporate use, he said, because public blockchains can expose payment flows and revenue patterns; in Fireblocks’ talks, Fortune 500 companies see it as the top unresolved issue.
With experts warning of a 2030 'Q-Day,' why is upgrading Bitcoin to be quantum-proof still considered a distant coordination issue?
Can crypto solve its privacy dilemma for big business without becoming just another centralized corporate database?
As North Korean hackers now use AI to steal billions, is the crypto industry prepared for this new wave of attacks?
Bitcoin’s Quantum Migration Plan: BIP-361, Supply Shock Risks, and the Industry’s Struggle for Coordination
Overview
The cryptocurrency ecosystem is facing immediate threats from conventional hacking, as shown by recent DeFi breaches like the eth.limo and rsETH exploits in April 2026. These incidents highlight that not only smart contracts but also front-end and infrastructure components are vulnerable to human error and operational failures. This ongoing risk is reflected in market sentiment, with traders expecting more major hacks by the end of the year. The situation underscores the need for stronger security practices now, even as the industry prepares for future challenges like quantum computing, which could eventually threaten the cryptographic foundations of digital assets.