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first_img Europol report: Cryptocurrency wallets are the main risk points for quantum attacks

On Wednesday, the European Union law enforcement agency Europol released two reports urging the industry and policymakers to proactively address the threats posed by quantum computing. One report, titled "Quantum Computing and Cryptocurrency," written by Europol's European Cybercrime Centre, points out that cryptocurrency wallets are "the main exposure point for quantum threats." Wallets rely on private keys for authorized transactions and public keys for verification; a sufficiently powerful quantum computer could derive the private key from an exposed public key, allowing attackers to access funds without authorization, a moment often referred to as Q-Day. The report states that the hash functions used to link blocks and support mining are fundamentally resistant to quantum attacks.The report believes that cryptocurrency will not collapse due to quantum computing but recommends adopting "proactive defenses," including a phased transition to quantum-resistant cryptography and improving wallet security and key management. Wallets with public keys exposed on-chain cannot be remedied afterward, and the report states that the only solution is to migrate in advance. Glassnode estimated in May this year that 6.04 million BTC (30.2% of the issued supply) have exposed public keys. Upgrading Bitcoin also comes with costs: NIST standardized post-quantum signatures are 10 to 120 times larger than the ECDSA signatures currently used in Bitcoin, which could lead to block space overload and increased transaction fees. The report cites a 2024 study estimating that migrating all unspent transaction outputs would require at least 76 days of cumulative downtime.The second report, "Collect First, Decrypt Later," was completed in collaboration with Carlos III University of Madrid in Spain. It studies the behavior of attackers who collect encrypted data today and decrypt it in the future, finding risks in protocols such as TLS, SSH, and OpenPGP.

first_img European Central Bank officials: Without a digital euro, tokenized platforms may become fragmented

European Central Bank Executive Board member Piero Cipollone stated during the MNI Connect Webcast that without a pan-European digital payment solution covering various daily transactions, the fragmentation risk between tokenization platforms may increase, thereby undermining Europe's "resilience and monetary sovereignty." He pointed out that the goal of the European Central Bank should be to create a digital euro that can be exchanged between banks and used for daily transactions.Cipollone emphasized, "Our goal is not to replace the role of banks." He stated that the digital euro will provide banks with the infrastructure needed to compete in the digital age and help banks expand the coverage and application scenarios of their own solutions.According to him, the European Central Bank has not yet decided whether to issue a digital euro but plans to complete the legislative process by the end of 2026. If the project advances, a 12-month pilot program will be launched in the second half of 2027, with a potential official issuance in 2029. The European Central Bank first proposed introducing a digital euro in October 2020 as a complementary digital payment option to cash. Critics argue that the central bank digital currency could give EU officials the means to monitor or even control residents' spending. Cipollone stated in September 2025 that the digital euro will ensure that all Europeans can use a free and widely accepted digital payment method at any time, even in the event of significant disruptions.

Gate Europe accelerates the expansion of the European market, with MiCA compliance foundation and liquidity construction advancing simultaneously

According to U.Today, as the EU MiCA transition period ended on July 1, obtaining MiCA authorization has become an important foundation for cryptocurrency trading platforms to continue serving European users. Gate Europe obtained MiCA authorization before the end of the transition period and expanded related services through the European Economic Area passport mechanism. Gate data shows that from June 16 to September 22, the platform added at least 68 new spot trading pairs, currently covering about 190 assets and 382 trading pairs.The article cites data from CASP Tracker, indicating that as of September 28, 84 out of the world's largest 100 cryptocurrency trading platforms have not yet obtained MiCA authorization. Meanwhile, Gate Europe passed the PCI DSS v4.0.1 Level 1 compliance assessment on September 15, covering Gate Connect and Gate Card. Gate Europe CEO Dr. Giovanni Cunti stated that security and compliance are key to building trusted payment services in Europe, and obtaining PCI DSS certification is an important step in strengthening payment infrastructure.In terms of liquidity, Gate data shows that from September 14 to 27, the order book depth for BTC/USDC and ETH/USDC within 0.1% of the midpoint increased by approximately 14% and 12%, reaching $1.32 million and $555,000, respectively. Meanwhile, DefiLlama MiCA exchange data shows that the depth of Gate Europe's spot market within 2% of the midpoint reached $15.9 million, higher than other platforms during the same period. Relying on the compliant foundation built on the dual licenses of MiCA and Payment Institutions (PI), Gate Europe will continue to improve asset coverage and liquidity construction, providing European users with a richer selection of digital asset trading options and a better trading experience.
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