In the early stages of quantum attacks, untraceable wallets were stolen, and Tether minting keys may become high-value targets

Comparing the news, Christopher Smith, founder of blockchain startup Quantus, said that the first quantum attack may have been the result of a series of unexplained crypto wallet thefts rather than directly stealing Satoshi Nakamoto's sleeping bitcoin estimated to be worth around $63 billion. He pointed out that quantum computers that are powerful enough can derive private keys from public keys exposed on the chain, so attackers can transfer funds without invading wallets, devices, or exchange internal systems.

In cases of theft from high-security agencies, the only evidence may be the absence of traces of intrusion. Smith said that the first targets of quantum attacks may be military systems and state secrets; in the blockchain space, stablecoin issuer Tether's minting keys may be more valuable. By managing wallets, attackers can mint tokens out of thin air and sell them before the issuer responds. Google has accelerated the post-quantum migration timeline to 2029; Smith believes the probability of quantum computers cracking modern cryptography around 2028 is “50-50.” Related blockchains have begun migrating to post-quantum signatures.