Quantum computing could expose $3T in digital assets and banking systems to risk by 2033, warns Project Eleven report.

A new 110-page report by Project Eleven warns that quantum computers could break the cryptography securing over $3 trillion in digital assets, including Bitcoin and Ethereum, by as early as 2030 and no later than 2033. This threat extends beyond cryptocurrencies to banking systems, cloud infrastructure, and military communications. Migrating to post-quantum cryptography is complex, requiring coordinated action across users, exchanges, and institutions, and could take a decade or more. The report highlights the urgency and coordination challenges, especially for Bitcoin, whose upgrades historically move slowly and involve political debates.