JUST IN: Google Quantum AI warned that future quantum computers could break the elliptic curve cryptography used by many cryptocurrencies today with far fewer resources than previously calculated.

The company called for accelerating the transition to post-quantum cryptography and presented a responsible disclosure model to avoid unfounded panic while the industry prepares.
Google estimated that breaking ECDLP-256 would require fewer than 1,200 or 1,450 logic qubits, depending on the circuit, and between 70 million and 90 million Toffoli gates.