Binance CSO says crypto faces no immediate quantum threat

Binance Chief Security Officer Jimmy Su said current quantum computers cannot break the cryptography protecting major digital assets, including Bitcoin and Ethereum, while warning that the industry needs to prepare before that changes. 

Su addressed the issue in an Aug. 11 Binance post covering five common questions about quantum computing.

Su said “current quantum computers are nowhere near the scale and reliability needed to break the cryptography protecting digital assets.” He described quantum computing as a long term security concern rather than an immediate threat to users.

Google research lowered the estimated quantum resources needed

The concern centers on Shor’s algorithm, which a sufficiently capable quantum computer could use to solve the mathematical problem behind elliptic curve cryptography. In theory, an attacker could derive a private key from an exposed public key and forge transactions. No quantum computer capable of doing that currently exists.

Google Quantum AI sharpened the debate in March. Its research estimated that breaking a 256 bit elliptic curve could eventually require fewer than 500,000 physical qubits and take minutes under specified hardware assumptions. That represents roughly 20 times fewer physical qubits than an earlier estimate, reflecting algorithmic improvements rather than a comparable leap in existing quantum hardware.

Su said “we’re talking about quantum now not because there’s an emergency today, but because waiting until there is an emergency could be much too late.”

Binance says ordinary security threats remain more urgent

For users, Binance is not recommending an immediate change in custody practices because of quantum computing. Su said phishing, malware, social engineering, compromised credentials and weak wallet security remain more immediate threats. He advised users to protect recovery phrases, use trusted software, keep applications updated and avoid unnecessary address reuse.

Su also cautioned against adopting untested products simply because they advertise themselves as quantum proof. 

“You could actually introduce more security risk today trying to protect yourself against a future threat,” he said. 

Binance said it is monitoring quantum developments and evaluating post-quantum security standards while preparing its infrastructure for eventual blockchain migrations.

Post-quantum work is already moving beyond research

The cryptographic tools needed for that transition already exist. The U.S. National Institute of Standards and Technology finalized ML-KEM, ML-DSA and SLH-DSA in 2024 and says organizations should begin migrating toward quantum-resistant cryptography now. Its current standards roadmap targets the eventual removal of vulnerable algorithms from NIST standards by 2035.

Crypto companies are also funding Bitcoin work. As previously reported, Strategy, BlackRock, Coinbase and six other firms pledged $15 million over three years to Bitcoin security research, with post-quantum cryptography among the consortium’s priorities. Galaxy separately committed up to $5 million for Bitcoin quantum readiness research and developer grants.

Ethereum is moving in the same direction. Its updated technical roadmap has moved quantum security higher among its development priorities, while researchers are testing account-level post-quantum protections.

Sui has gone further by announcing specific deployment targets. Its Aug. 6 roadmap plans quantum-safe vaults for mainnet in 2026, ML-DSA-65 accounts on testnet by year-end and native post-quantum account authentication on mainnet in the first quarter of 2027. The dates remain subject to audits and testing.

What happens next for crypto quantum security

The harder issue may be migration rather than designing algorithms. Bitcoin, Ethereum and other decentralized networks would need developers, wallets, exchanges, custodians and users to coordinate changes without stranding funds protected by older cryptography. Questions also remain over how networks should handle dormant or lost coins that cannot migrate voluntarily.

For now, Binance says no emergency action is required from ordinary holders. The industry’s growing research funding and network roadmaps instead point toward a gradual transition intended to finish before cryptographically relevant quantum computers become practical.