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After announcing a 2029 target for migration to post-quantum cryptography (PQC), Google issues a new warning that a quantum system could attack a Bitcoin (BTC) transaction in about nine minutes. The tech giant warned it won't happen today but it's a possibility one should be prepared for sooner than later. Understanding quantum threat to cryptocurrency Cryptocurrencies are virtual currencies that rely on cryptography to encrypt or conceal sensitive financial details from those other than transacting parties. Though the most powerful supercomputers active today will take thousands of years to decrypt cryptography, the cryptocurrency community fears quantum computers will be able...

The U.S. Attorney’s Office for the Eastern District of New York and the Justice Department’s National Security Division also filed today a civil forfeiture complaint against approximately 127,271 Bitcoin, currently worth approximately $15 billion, that are proceeds and instrumentalities of the defendant’s fraud and money laundering schemes, and were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. Those funds (the Defendant Cryptocurrency) are presently in the custody of the U.S. government. The complaint is the largest forfeiture action in the history of the Department of Justice.