DeFi
Nine Crypto Firms Launch Quantum Alliance to Set Post-Quantum Standards
Nine blockchain organizations—including Hacken, Midnight Foundation, Quantus, Postquant Labs, Keystone, American Fortress, Intmax, Abelian, and The Vault—formed the Quantum Alliance around October 15–16, 2026. Announced from Lisbon, the group aims to develop shared, testable standards for post-quantum readiness across networks, wallets, and infrastructure, modeled partly on open standards bodies such as the Internet Engineering Task Force (IETF).
The alliance estimates that roughly 6–6.4 million BTC (about 30% of supply) have exposed public keys, including early pay-to-public-key outputs, reused addresses, and some attributed to early holders. At prices near $81,000–$81,500 around October 17, this exposure represents a substantial paper value. Current quantum computers cannot practically derive private keys from elliptic-curve signatures via algorithms such as Shor’s, but members differ on timelines—some project a realistic threat window by the late 2020s (around 2028), while others stress uncertainty and the need for migration planning regardless of exact dates.
Working groups cover blockchain migration (including handling exposed keys and dormant accounts), post-quantum zero-knowledge systems, wallet and key security, and cross-chain compatibility. The effort focuses on open guidance, public definitions of “quantum readiness” (covering signatures, key management, consensus, zero-knowledge proofs, and peer-to-peer connections), testing criteria, benchmarks, and reference designs rather than enforced upgrades. Proposals are intended to advance on public evidence and working implementations without voting weight tied to corporate size or token holdings.
Bitcoin and Ethereum continue to rely primarily on elliptic-curve signatures, which a sufficiently powerful future quantum computer could theoretically challenge. The alliance includes base-layer protocols, privacy networks, rollups, hardware wallet makers, and security auditors, spanning multiple layers of the stack. Members such as Quantus (which uses NIST ML-DSA from genesis) and Abelian (lattice-based) already incorporate post-quantum elements, while others focus on wallets, custody, and tooling. The initiative does not claim protocol-level changes for Bitcoin Core or Ethereum, emphasizing voluntary standards and testing to help the broader industry prepare.
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Security firm Hacken reported that crypto hacks and related losses totaled $1.18 billion across 107 incidents in the third quarter of 2026. The figure was 55% higher than the previous quarter and underscored persistent security challenges even as overall market capitalization recovered toward the $2.7–3 trillion range earlier in the year. Audit badges and conventional security signals did not fully mitigate the risks in several high-profile cases, according to the analysis.
Approximately $906–907 million (about 77% of the total) stemmed from compromised suppliers or developer tools, publicly available security fixes that were not installed, or components excluded from the most recent security reviews. Major incidents included a Bitget exchange breach involving third-party security infrastructure (reported between roughly $352–387 million) and an exploit affecting the Liquid Network (around $320 million). Smart contract issues accounted for a large share of the number of incidents, while access-control and operational failures drove significant value losses. About one-third of the gross losses were later returned, reversed, or covered by operators.
The data serves as a reminder of operational and smart-contract risks amid growing institutional participation and on-chain activity. Hacken noted that many attacks targeted systems outside the typical scope of standard audits, such as signing infrastructure, third-party tools, and supplier components. The concentration of losses in a relatively small number of large incidents further highlighted how single points of failure can drive the majority of quarterly damage even as the broader market expands.
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