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.
Follow us on X to get the latest news as it happens
Where Crypto Losses Came From in 2026
Data from the first half of 2026 broadly reflects Su’s assessment. Attackers continue to exploit operational weaknesses, compromised infrastructure, and human error rather than quantum vulnerabilities.
Blockchain analytics firm TRM Labs recorded about $972 million stolen across 207 hacks in the first half of 2026.
Most of the money came from infrastructure and operational compromises. These drove roughly 76% of losses despite making up about 15% of incidents.
SlowMist’s data also shows where crypto attacks are occurring most often. It found that contract and logic vulnerabilities accounted for the most incidents, with private key and credential compromises ranking second. Supply chain attacks followed in third place.
The data points to the same everyday threats Su named, not quantum machines. For now, he recommended that users continue following basic crypto security practices, including:
- Keeping recovery phrases and private keys secure.
- Using reputable wallet software.
- Installing software and security updates promptly.
- Limiting unnecessary address reuse where applicable.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
Bitrue