While most forward-looking studies about cryptographically relevant quantum computers (CRQC) focus on the threat to factoring and the risks associated to securing data against “harvest now, decrypt later” attacks, systems reliant on elliptic curve cryptography (ECC) are bound to be the first vulnerable to quantum attacks.

In this presentation, we cover the latest trends in quantum hardware and algorithms for cryptanalysis. We review the basics of ECC and its deployment in digital infrastructures and locate attacks on ECC in the application landscape of quantum computers. From physical and economical considerations, we estimate a plausible range for the cost of quantum attacks and the rate at which such attacks can occur at the onset of the fault tolerant regime.

We look in detail at the use of ECC in blockchain infrastructures like Bitcoin and other cryptocurrencies and build the case that the early Bitcoin wallets are bound to act as canaries for the onset of quantum cryptanalysis attacks. The implications for US agencies and the blind spots of regulators are highlighted.

Open Q&A discussion.

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