Quantum computers will be able to hack crypto wallets, and IDAX CEO gone missing

Quantum computers pose a real threat to cryptocurrencies

Quantum computers will be able to pick keys to wallets and are a threat to all asymmetric cryptography, Sergey Kulik, Scientific Supervisor of Quantum technology centre, Physics faculty of Lomonosov Moscow State University, thinks.

“This is one of the threats. It is true that the asymmetric cryptography will be endangered as soon as an effective quantum computer is launched”, — he said.

The Quantum technology center participates in a project on creating a Russian 50-qubit quantum computer. It is expected to be launched before 2021. Earlier, Google announced creation of the world’s first 54-qubit processor.

IDAX CEO disappears, the exchange suspends work

CEO of the Chinese cryptoplatform IDAX cannot be reached for already five days, the exchange suspended deposits and withdrawals.

“Since November 24, IDAX Global CEO have gone missing with unknown cause and IDAX Global staffs were out of touch with IDAX Global CEO. For this reason, access to Cold wallet which is stored almost all cryptocurrency balances on IDAX has been restricted so in effect, deposit/withdrawal service cannot be provided.” — says the announcement on the platform’s official website.

The exchange announced problems with withdrawals back on November 24, citing the increased demand for withdrawals. The Chinese media Blocklike citing their source, said the IDAX CEO ran away with the clients’ funds.