Google "Decrypting virtual asset wallet encryption will be easier than expected"

A statement that could raise security concerns in the virtual asset (cryptocurrency) market was released.

On the 27th (Korean time), the Google quantum computing team said on its blog, "It found that decrypting RSA encryption used for virtual asset wallets and banking requires 20 times fewer qubits than previously estimated."

Researcher Craig Gidney explained, "In 2019 it was estimated that more than 20 million qubits would be required to decrypt a 2048-bit RSA key, but the study shows the encryption can be decrypted within a week with fewer than 1 million qubits."

However, Bitcoin uses elliptic curve cryptography (ECC), not RSA.