Europol is urging the cryptocurrency industry to start preparing wallet and protocol upgrades to defend against quantum threats, warning that a coordinated migration could take years. According to NS3.AI, the agency said the cryptographic keys controlling funds are the main exposure and recommended a phased shift to quantum-resistant cryptography.

Europol's European Cybercrime Centre said quantum computers capable of breaking the relevant cryptography do not yet exist, and their arrival remains uncertain. The agency also advised users to move funds to quantum-resistant wallets as suitable options become available.