Binance Security Chief Says Quantum Computers Are Not What Steals Crypto Today

Binance's top security executive says quantum computing is not an immediate threat to crypto holders today. Instead, he points to phishing, malware, and stolen credentials as the attacks stealing funds now.

Jimmy Su, chief security officer at Binance, made the comments in a company Q&A on quantum computing.

What Binance Says Actually Threatens Crypto

Su addressed a common fear that quantum computers can already break the cryptography securing blockchains. He said the technology is not yet advanced enough to pose an immediate threat to users' crypto holdings.

"Quantum computing is a real long-term security issue, but it's not an immediate threat to your crypto today. The important thing is that we prepare before that changes," he said.

According to him, the biggest risks are the ones users already face day to day.

"The threats most likely to steal your crypto today are still things like phishing, malware, social engineering, compromised credentials, and poor wallet security – not quantum computers," Su mentioned.

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