Researchers in China have announced a significant advancement in their ability to breach encryption algorithms used in banking and cryptocurrency by utilizing a quantum computer. A team from Shanghai University, led by Wang Chao, employed a quantum computer designed by D-Wave Systems to exploit these algorithms through a process known as quantum annealing. This technique focuses on identifying the lowest energy states, which was used to target the Present, Gift-64, and Rectangle algorithms that form the basis of the Substitution-Permutation Network (SPN) structure essential for advanced encryption standards (AES).
Among the various encryption standards, AES-256 is known for its robust security. However, the researchers warn that the rise of quantum computing could threaten its integrity. The breakthrough they achieved suggests that quantum computers may have the potential to undermine traditional password protection methods, which has broad implications for the security of digital assets.
The quantum annealing method introduced by Wang’s team functions in a manner akin to artificial intelligence algorithms, optimizing solutions on a global scale. Unlike conventional algorithms that examine each possible path systematically, quantum tunneling enables particles to bypass barriers, allowing quantum computers to discover optimal solutions more quickly and effectively.
While this research marks a significant step forward, the authors acknowledged that various constraints such as environmental factors and hardware limitations still restrict the feasibility of a full-scale quantum cyberattack at this time. Although their quantum computer successfully analyzed algorithms without disclosing specific passcodes, it achieved results surpassing previous efforts. This suggests the potential for quantum attacks to evolve, unveiling new vulnerabilities in cryptographic systems.
In light of these developments, discussions around mitigating quantum risks have intensified. Ethereum co-founder has suggested that a hard fork could be a viable strategy to shield against future quantum threats, potentially allowing users to transition to new secure wallet software without significant loss of funds.
