Analysis News TheBitTimes.com

A cybersecurity expert has warned that Bitcoin’s (BTC) underlying security could be compromised in the coming years by quantum computers, amid ongoing advancements in the sector.  According to David Carvalho, CEO and Chief Scientist at Naoris Protocol, Bitcoin is vulnerable due to its reliance on elliptic-curve cryptography. To this end, he projected that it could take just three to five years for quantum computers to crack this security, he said in an interview with Crypto News.   He explained that emerging quantum algorithms, especially Shor’s algorithm, will be able to break Bitcoin’s cryptographic protections in seconds once sufficiently powerful quantum computers are available. Carvalho cautioned that about 30% of Bitcoin, or 6 to 7 million BTC, is stored in addresses that expose public keys, making them prime targets for quantum attacks.  “Blockchains are based on elliptic-curve signatures, which Shor’s algorithm will rip to shreds in seconds o...

Pro-Israel hackers behind the theft of $90 million from Iran’s largest crypto exchange, Nobitex, have threatened to target more Iranian institutions and warned citizens to withdraw their funds. Known as Gonjeshke Darande, or “Predatory Sparrow,” the hackers announced on X last Friday that they’re looking to target any institutions supporting Iran’s military forces. “Some of them will be destroyed with intense force; others will just disappear right before your very eyes,” it said. Predatory Sparrow then warned Iranians to withdraw their funds before it’s “too late,” and said it would not explain itself any further. The octopus ruling Iran has many arms – they are being cut off one by one This week, we, “Gonjeshke Darande”, targeted the IRGC’s financial lifelines – the arteries feeding terror and destruction. These infrastructures were not operated for the benefit of the citizens. They… pic.twitter.com/5aEiN0esGl — Gonjeshke Darande (@GonjeshkeDaran...