Quantum Computer Q-Day: Tether's Issuance Key May Be Compromised Before Bitcoin

The first signal of 'Q-day', when quantum computers could break modern cryptography, may not be the theft of Bitcoin but rather a chain of wallet hacks. Christopher Smith, CEO of blockchain startup Quantus, warned that attackers could derive private keys from publicly available on-chain public keys to siphon off funds. Smith noted that the first victim might not be a Satoshi wallet, with Tether's (USDT) 'issuance key' identified as the most valuable key. There is also a possibility that attackers could seize the admin wallet to issue tokens without authorization. Security researcher Sean Chatham analyzed that wallets with less obvious signs of anomalies, like exchange 'hot wallets', could be prioritized targets. Quantum attacks are likely to disguise themselves as ordinary hacks rather than large-scale breaches. While the exact timing of when quantum computers will break modern encryption is uncertain, Google has accelerated its post-quantum goals to 2029. Smith assessed the likelihood of this becoming a reality by 2028 as '50-50', while Chatham predicted the early 2030s as a likely timeframe. Experts emphasize that response is more important than timing, and some blockchains have already begun transitioning to 'post-quantum signatures'.

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