Europol Urges Crypto Industry To Prepare For Quantum Threats

Europol’s European Cybercrime Centre issued the recommendation in a report published Oct. 7, 2026. The report identifies the cryptographic keys that control cryptocurrency holdings as the main exposure to future quantum attacks.

Wallets use private keys to authorize transactions and public keys to verify them. A sufficiently powerful, fault-tolerant quantum computer could derive a private key from an exposed public key, allowing an attacker to forge transaction signatures and spend funds without the owner’s permission.

Computers capable of carrying out such attacks do not yet exist, and the timing of their development remains uncertain. Europol recommended that the industry begin testing and coordinating upgrades before the technology becomes practical.

The agency called for a phased transition to post-quantum cryptography, which is designed to withstand attacks from quantum computers. Blockchain developers should add compatible algorithms to their protocols and support wallet providers in implementing them. Providers should test and deploy wallets that support the new standards.

Users were advised to transfer holdings to quantum-resistant wallets when suitable products become available. Europol also recommended clearer information about risks, timelines and safeguards, along with stronger address and key-management practices during the transition.

The report distinguishes between the cryptographic keys used to control funds and the hash functions used in blockchain systems. Europol described hash functions as more resistant to quantum attacks, while noting that they are not completely immune. The report therefore focuses on protecting the keys that authorize transactions.

The migration could require more than software updates. Wallets may need new hardware if existing devices cannot support post-quantum systems. Holdings recorded as unspent transaction outputs, or UTXOs, would need to be transferred through transactions recorded on the blockchain.

Larger post-quantum signatures, compatibility limits and the need for agreement across decentralized networks could slow adoption. Deploying new standards across millions of wallets and nodes may take several years. Europol recommended a phased process that gives priority to holdings at greater risk.