Crypto industry may be running out of time to prepare for quantum attacks

Google research indicates that improved quantum-algorithm efficiency could make breaking elliptic curve cryptography feasible with fewer logical qubits and tens of millions of gates, allowing attackers to recover private keys in minutes and perform 'on-spend' attacks during transaction confirmation or target long-exposed public keys and dormant wallets; the paper urges the cryptocurrency community to plan transitions to post-quantum cryptography.