Zcash developers temporarily suspended Orchard transactions after discovering a critical vulnerability in the privacy-focused blockchain’s latest shielded pool, then restored functionality through an emergency network upgrade.

On Wednesday, the Zcash Foundation said the vulnerability affected Orchard’s zero-knowledge proof circuit and could have allowed invalid state transitions within the pool. However, the Foundation said there was no evidence that the bug was exploited, no unauthorized value creation was detected, and user privacy was not affected.

The fix was carried out through a two-step emergency upgrade. Zebra 4.5.3 temporarily disabled Orchard actions, while Zebra 5.0.0 activated the NU6.2 upgrade to re-enable Orchard with a corrected circuit, according to the Foundation. 

The emergency response shows how a bug in core privacy infrastructure can require coordinated action across miners, exchanges and node operators, even when user funds and total supply are not affected.

The upgrade also appeared to have caused confusion across parts of the Zcash ecosystem. One Zcash block explorer showed block 3,364,601 as the latest block mined at 5:27 am UTC, while the page listed it as mined about four hours earlier, prompting reports on X that the Zcash network was down. 

Zcash Open Development Lab (ZODL)-affiliated contributor Tatyana said the network experienced “a brief period of instability” as miners upgraded and converged on new consensus rules. The post did not directly name the block explorer or wallet issues, but said network stability had been fully restored by about 3:00 am Eastern Time on June 2.

Cointelegraph reached out to the Zcash Foundation for comment but had not received a response by publication. 

Zcash Block Explorer showing the last mined block four hours ago. Source: Zcash Block Explorer

According to the Zcash Foundation, the vulnerability was discovered on May 29 by independent security researcher Taylor Hornby during an ongoing protocol audit for Shielded Labs. The issue was disclosed to ZODL core engineers, who confirmed it and began preparing remediation options.

Zcash incident sparks confusion among community members

Mert Mumtaz, CEO of Solana infrastructure firm Helius, disputed the reports, saying the network was “not down” and that some explorer apps were connected to a bad node. 

Pseudonymous community member Zerodarts echoed the sentiment, saying that “blocks are being mined” and that most block explorers need to update their nodes.

Related: Zcash is ‘running its own bull market’ as ZEC price paints 88% rally setup

However, community member Railgoon said Zcash miners and developers had frozen the Orchard shielded pool to patch a vulnerability before a hard fork. He said the network was therefore “partially intentionally down” at the time, but had since recovered. 

Zcash’s ZEC token briefly fell below $600 to $599 after reaching a daily high of $637, according to CoinGecko data. However, it had recovered to $614 at the time of writing. 

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MoneyGram launched MGUSD, a US dollar stablecoin on Stellar, as the remittance company deepens its push into blockchain-based cross-border payments.

The company said Tuesday that MGUSD will be integrated into the MoneyGram app through a self-custodial wallet, allowing users to hold dollar-denominated balances, move funds globally and convert into local currencies. The stablecoin initially launched in the US market, with plans to scale worldwide. 

MGUSD is backed by a notable infrastructure stack. The tokens are issued by Bridge, Stripe’s stablecoin platform, which received conditional approval from the US Office of the Comptroller of the Currency to operate as a federally chartered national trust bank in February. 

MGUSD is issued by Bridge, Stripe’s stablecoin platform, with mint-and-burn smart contract infrastructure from M0 and wallet infrastructure from Fireblocks.

The launch marks a deeper step in the remittance industry’s stablecoin push, shifting from backend settlement and payout partnerships toward app-based digital-dollar balances for consumers.

MoneyGram said MGUSD builds on its long-running partnership with the Stellar Development Foundation. The company described the stablecoin as a deeper move into issuance, balance infrastructure and broader network utility.

Remittance costs drive onchain push 

The launch comes as remittance firms increasingly test blockchain infrastructure for cross-border payments, a sector that remains costly and inefficient compared with domestic systems. 

Global cost of sending $200 in remittances. Source: World Bank

In a 2026 paper, the Bank for International Settlements (BIS) said cross-border payments remain “more costly, less accessible, slower, and less transparent” than domestic payments, despite new payment arrangements. Retail cross-border payments can also take several days, while transparency can be limited. 

Related: Western Union teams with Crossmint to support USDPT stablecoin on Solana

World Bank data showed that sending $200 across borders cost an average of 6.36% in the third quarter of 2025, meaning fees and foreign-exchange margins consumed about $12.72 of a $200 transfer. That remains more than double the United Nations Sustainable Development Goal target of 3%.

Stablecoin transfers can reduce the blockchain settlement component of a payment to a fraction of a cent, though users may still pay on-ramps, off-ramps, foreign exchange spreads and local payout fees. Stellar’s developer documentation says the network minimum fee is 100 stroops, or 0.00001 XLM (about $0.000002) per operation.

Stablecoins have also grown into a large enough market to draw attention from payment firms. DefiLlama data shows that the total stablecoin market cap is at around $320 billion, while Citi forecast in September 2025 that stablecoin issuance could reach a base case of $1.9 trillion by 2030. 

Stablecoin market cap. Source: DefiLlama

That cost gap and stablecoin growth help explain why remittance companies are testing stablecoin infrastructure. On May 5, MoneyGram partnered with crypto exchange Kraken to allow users to convert crypto into cash for pickup across 100 countries. On May 20, the company partnered with the Stripe-incubated blockchain Tempo to support stablecoin settlement and help validate remittance transactions. 

Its business rival, Western Union, has also moved into stablecoins. On May 5, the company began rolling out its USD stablecoin called USDPT on Solana, initially in Bolivia and the Philippines, with plans to expand to over 40 countries in 2026. 

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The Sui Foundation, the nonprofit organization behind the Sui Network, says it has made a “major upgrade” to address issues that caused three recent outages and left the blockchain down for more than 15 hours across two days.

Sui experienced an outage on Thursday that lasted nearly six hours and two more on Friday. The first lasted eight hours and 25 minutes while the second lasted 43 minutes, according to the Sui network’s uptime dashboard. All systems are listed as operational as of Monday.

The Sui Foundation said in a blog post on Sunday that it applied an upgrade to fix the bugs that caused the outages. It also flagged several issues for improvement, such as better failure containment, end-of-epoch resilience and further investment in artificial intelligence agents, which helped with diagnoses, querying validator logs and assembling metrics.

“As of now, validators have fully addressed the known issues caused by both the original gas-charging bug and the randomness-state bug, and network activity has resumed,” the Sui Foundation said. It added that “during the outages, no user funds were at risk, and the network did not revert any committed transactions when it resumed.”

Source: Sui

Sui had a similar outage in January, which knocked the network offline for more than six hours. Another incident occurred in November 2024, when all validators were stuck in a crash loop for about 2.5 hours. Sui is the 13th-largest blockchain by total value locked at $519 million and hosts 137 protocols, according to DefiLlama.

Bugs introduced during software update

The Sui Foundation said the blockchain’s two most recent outages stemmed from “crash bugs” introduced in its 1.72 software release. The bugs impacted gas charging, causing the network to charge funds before canceling transactions for insufficient balances. This created negative balances that crashed the system 

An interim fix for the initial bug triggered the third outage. The fix aimed to bring the network back online until a permanent solution could be devised, but it had “a known issue with a low probability of causing a halt.”

Related: CME Group expands crypto futures with Avalanche and Sui contracts 

The Sui (SUI) token has declined since the outages. It traded at about 99 cents on Thursday before the first outage, according to data from crypto aggregator CoinGecko. It has since dropped roughly 11% and is worth about 88 cents as of Monday.

In early May, the token climbed 50% to $1.41 following several positive developments, including a Nasdaq-listed company staking a large portion of the supply.

Sui launched its mainnet in May 2023, aiming to be scalable and capable of processing transactions fast enough for mainstream financial institutions.

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Vietnam’s Ministry of Finance has proposed letting small and medium-sized enterprises use digital assets, virtual assets and intellectual property as collateral for bank loans.

The proposal is part of a draft revised Law on Support for SMEs, which is open for public consultation, according to a Friday report by Vietnam News. Under the framework, businesses could secure loans using future-formed assets, property rights, intangible assets and digital or virtual assets.

SMEs and household businesses account for more than 98% of all enterprises in Vietnam, yet outstanding loans to the segment represent only around 20% of total bank credit in the economy, per the report. The Ministry attributed the imbalance to a lack of eligible collateral, limited financial transparency and the small capital base of most SMEs.

Many startups and technology-driven companies hold valuable software, patents or intellectual property but have no land or physical assets to pledge, the report claimed. The new proposal marks a policy shift that could open up credit access for thousands of startups and tech companies currently locked out of the formal lending system.

Related: Bithumb enters Vietnam crypto license race with SSI Digital deal

Vietnam wants banks to lend on business plans

The draft also pushes credit institutions to expand lending based on credit ratings, business plans, cash flows and market potential, rather than fixed assets alone.

Beyond collateral reform, the draft law outlines incentives for green and sustainable businesses, including preferential access to credit guarantees, concessional financing and interest-rate support for circular economy and energy-saving projects. Tax incentives and support for ESG compliance reporting are also included.

The draft is currently open for public consultation.

Vietnam has become one of the most active crypto markets in the world, ranking fourth in Chainalysis’ 2025 Global Crypto Adoption Index behind India, the United States and Pakistan.

Global cryptocurrency adoption index. Source: Chainalysis

Related: Vietnam arrests ONUS-linked suspects in alleged crypto fraud case

Vietnam eyes Q3 launch of regulated crypto market

As Cointelegraph reported, Vietnam could see its first regulated crypto market activity as early as the third quarter of 2026, Deputy Minister of Finance Nguyen Duc Chi said at the Digital Trust in Finance 2026 forum.

In March, regulators opened a licensing pathway for domestic crypto trading platforms earlier this year, with five companies, including affiliates of Techcombank, VPBank and LPBank, having already passed an initial qualification round to launch the country’s first regulated exchange.

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The Sui layer-1 blockchain experienced another disruption on Friday, causing a “network stall” that temporarily halted block production, before normal activity resumed, according to the Sui team.

Network activity “may be paused,” the Sui team said. The network disruption lasted for over three hours and 30 minutes at the time of publication, according to the Sui network’s uptime dashboard.

Sui’s mainnet validators experienced disruptions on both Thursday and Friday. Source: Sui

The last block before the disruption was produced at about 11:51 UTC on Friday, according to the Suiscan block explorer. Network activity on the Sui mainnet resumed at about 3:30 UTC. The Sui team said in an update:

“Both today’s and yesterday’s halts are due to the interaction of the 1.72 release, which introduced address balances and gas charging logic. Yesterday’s implemented fix was an interim measure designed to restore functionality to the network.”

The interim fix had a “low probability” of causing a network disruption, and the long-term software fix has now been implemented by a majority of Sui validators. 

Source: Sui

The incident follows several major disruptions and network outages, including Thursday’s outage, which caused a nearly six-hour outage due to a “crash bug in the gas charging logic,” according to the team. The crash was the second major network disruption in 2026.

Related: SUI spikes 50% amid staking moves, zero-fee stablecoins, privacy push

The Sui network went down in January due to a consensus bug

In January, the network went offline for over six hours, halting block production due to a consensus bug. Validators submitted conflicting transactions to the protocol’s checkpoint mechanism, and the network was unable to reach the necessary threshold for consensus, according to the post-mortem report.

Source: Sui

January’s disruption was not caused by network congestion, user funds were “never at risk,” and no “certified transactions” were rolled back, the Sui team said at the time.

“The issue was detected and contained by Sui’s checkpoint certification and quarantine mechanisms, which prevented any user-visible fork at the cost of halting progress,” according to the post-mortem report.

High-throughput smart contract blockchain networks feature several layers, including data availability, transaction execution and validator consensus, which introduce more potential points of failure.

However, network outages in crypto also impact centralized service providers, including exchanges, which have fewer coordination challenges than decentralized blockchain networks.

In May, crypto exchange Coinbase suffered a temporary service disruption due to an Amazon Web Services (AWS) outage, forcing it to switch markets to an “auction” mode before restoring full service.

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Intercontinental Exchange, the parent company of the New York Stock Exchange (NYSE), is urging regulators to allow regulated exchanges to offer 24/7 onchain perpetual futures trading, according to ICE CEO Jeffrey Sprecher.

Speaking at a Bernstein conference on Wednesday, Sprecher said that he was urging regulators to create a “level playing field” for launching 24/7 onchain perps contracts, arguing that regulators are “prohibiting us from doing this when it’s already happening.” 

The CEO said that ICE had multiple exploratory discussions with decentralized exchange Hyperliquid about the synergies between the crypto and traditional finance (TradFi) industries, where ICE sought to “learn” more about onchain perps.

The comments are the latest testament on how more TradFi companies are exploring ways to enable 24/7 trading for stocks and commodities via blockchain rails, following Hyperliquid’s success. 

The remarks come a week after OKX said it will introduce perpetual futures based on ICE’s Brent crude and West Texas Intermediate (WTI) crude benchmarks, two of the world’s most widely used oil price indicators, Cointelegraph reported on May 22.

The trading products are the first initiative announced under a broader partnership between  ICE and OKX, after ICE invested in the cryptocurrency exchange at a $25 billion valuation in March.

Earlier in March, the NYSE also partnered with tokenization platform Securitize as part of a broader effort to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement for Wall Street.

Cointelegraph has approached ICE for comment on whether the exchange operator was planning to launch an onchain perps trading platform via Hyperliquid.

Related: UK proposes near-24/7 settlement to prepare markets for tokenization

Hyperliquid is “bigger than Nasdaq,” says ICE CEO

Sprecher praised Hyperliquid’s rapid growth as a trading platform, which facilitated the creation of multiple new billionaires, said the CEO, adding:

“If you haven’t heard about it, it’s bigger than Nasdaq, okay? It’s 11 people.”

Hyperliquid remains far smaller than Nasdaq by conventional trading volume measures, but Sprecher’s comment underscored the pressure that always-on crypto derivatives venues are putting on regulated exchanges.

Hyperliquid is ranked as the 7th largest decentralized exchange on CoinGecko, with a 3.7% market share and $195 million in daily trading volume.

It ranks as the fourth-largest fee-generating protocol in the crypto industry, generating $15.6 million in weekly fees in the past seven days, DefiLlama data shows.

Top decentralized exchanges by trading volume and market share. Source: CoinGecko

Hyperliquid has been expanding its functionalities and recently launched canonical prediction markets for offchain events, Cointelegraph reported on Tuesday.

The platform’s growing functionalities are positioning Hyperliquid as the crypto industry’s next “super-app,” making the Hyperliquid (HYPE) token “one of the most mispriced assets in crypto today,” as investors are still evaluating it as just a perp DEX, said Matt Hougan, chief investment officer at crypto asset manager Bitwise. 

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The Bank for International Settlements (BIS) released a report Wednesday on Project Agorá, an experimental prototype for cross-border wholesale payment.

The BIS said the report shows how seven central banks and more than 40 regulated financial institutions can settle cross-border wholesale payments in seconds once liquidity is locked, while reducing credit and settlement risk through atomic settlement using tokenized central bank reserves and commercial bank deposits.

The initiative marks one of the broadest collaborations yet between central banks and private lenders, exploring how tokenization could modernize global payments infrastructure.

The project, convened jointly by the BIS and the Institute of International Finance, targets the slow and costly nature of international transactions that continue to burden global trade and financial activity. Cross-border payments totaled $195 trillion in 2024 and are projected to reach $320 trillion by 2032, according to FXC Intelligence, cited in the report.

Project Agorá uses a two-layer blockchain architecture, combining tokenized central bank reserves on jurisdictional ledgers with tokenized commercial bank deposits on a shared unifying ledger, enabling so-called atomic settlement in which all balance updates occur simultaneously or not at all.

The BIS said the approach preserves the “two-tier banking system” and safeguards the “singleness of money,” which it called “fundamental to financial stability,” distinguishing the project from stablecoin alternatives.

The platform also allows institutions to conduct anti-money laundering, sanctions and fraud screening in parallel rather than sequentially, which the BIS said could reduce the high false-positive rates that plague today’s cross-border payment system.

Related: BIS warns dollar stablecoins could strain banks and policy

Project Agorá moves to real-value testing

The project is advancing to real-value testing with actual transactions involving certain currencies and participants, though the BIS didn’t provide a timeline for implementation.

The report identified areas requiring further development, including liquidity saving mechanisms, cybersecurity posture and governance frameworks covering settlement finality, data governance and risk management.

Settlement occurs in seconds once funds are locked, and the platform is designed to operate around the clock, mitigating delays caused by misaligned operating hours across jurisdictions.

Wholesale cross-border payments today vs Project Agorá. Source: BIS

“The prototype also enhances transparency. All parties to a transaction have access to real-time payment status, while maintaining privacy from non-participating entities,” the BIS stated in the report, adding that, in the future, such visibility could be extended to end users, including debtors and creditors.

Participating central banks include the Banque de France representing the Eurosystem, the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Federal Reserve Bank of New York via its New York Innovation Center and the Bank of England.

Earlier this month, the Bank of England proposed extending settlement hours for its RTGS and CHAPS systems as part of a broader push toward near-24/7 settlement.

Deputy Governor Sarah Breeden also said shared ledgers and tokenization could make payments and settlement faster and cheaper, with fewer intermediaries and shorter settlement windows.

Cointelegraph reached out to the BIS media team for comment on implementation timelines and governance plans, but had not received a response by publication.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026

JPMorgan has filed to launch a tokenized money market fund on Ethereum, allowing stablecoin issuers to hold reserves backing their stablecoins in a regulated, cash-like vehicle while earning interest.

The “OnChain Liquidity-Token Money Market Fund,” ticker JLTXX, will invest in US Treasury bills and overnight repurchase agreements collateralized by US Treasurys or cash, according to a filing Tuesday with the US Securities and Exchange Commission. JLTXX seeks to comply with the GENIUS Act, a stablecoin-focused law signed in July. 

Investors are subject to a $1 million minimum investment, and the fund carries a 0.16% annual fee after waivers. The fund will be managed by JPMorgan’s blockchain unit, Kinexys Digital Assets. The investment bank said the filing would take effect on Wednesday, though it did not disclose when it would launch the fund.

Blockchain-based tokenization has attracted growing interest from Wall Street executives in recent months, many of whom see the technology as offering greater operational efficiency for trading and settlement than traditional systems. 

More than $32.2 billion worth of real-world assets, excluding stablecoins, are currently tokenized onchain, according to RWA.xyz data. Nearly every major asset class has been tokenized, including commodities, stocks, bonds and real estate.

Source: Token Terminal

Bloomberg analyst Eric Balchunas said JPMorgan’s JLTXX is also a “big deal” because the 0.16% fee is low for a money market fund with a stable asset value.

JPMorgan’s blockchain use cases

The launch of JLTXX follows JPMorgan’s first tokenized product, My OnChain Net Yield Fund, or MONY, which launched in December and also runs on Ethereum. MONY holds short-term debt securities designed to deliver returns higher than bank deposit rates, with interest and dividends accruing daily. 

The filing for JLTXX also comes after a pilot transaction JPMorgan participated in last week, in which the first tokenized US Treasury fund moved from the US via XRP Ledger and interbank rails to one of JPMorgan’s Singapore bank accounts in a matter of seconds.

In April, Morgan Stanley launched the Stablecoin Reserves Portfolio, which allows stablecoin issuers to park reserves backing their fiat-pegged tokens in one of the bank’s money market funds while earning interest.

Related: Stablecoins behave like FX markets as liquidity splits: Eco CEO 

However, the International Monetary Fund flagged several concerns about tokenization in a report in April, arguing that tokenization shifts risk from the banking system to shared ledgers and smart contract code, making it more difficult to intervene during “stress events.” 

The IMF added that without legal clarity over ownership records and settlement finality, tokenized markets risk being “fragmented and peripheral.” 

Several industry pundits, including “Shark Tank” investor Kevin O’Leary, have said crypto market structure legislation —  such as the CLARITY Act — is needed to iron out these issues.

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Blockchain analytics platform Arkham has published what it says is a public, onchain map of crypto wallets attributed to Iran’s central bank, making a pair of US-sanctioned Tron addresses publicly searchable for investigators and the wider public.

The move could increase scrutiny of how Iranian-linked entities use stablecoins and blockchain networks to move funds outside traditional banking rails, as US authorities intensify sanctions enforcement tied to terrorism financing and oil revenues.

Arkham’s May 11 research post groups the wallets into a Central Bank of Iran entity page and explorer, which the firm says can be used as a starting point to trace connected addresses and flows.

The map is built on two TRC-20 wallets that the US Treasury’s Office of Foreign Assets Control (OFAC) added to its Specially Designated Nationals list on April 24 as property of Bank Markazi Jomhouri Islami Iran, citing links to the Islamic Revolutionary Guard Corps-Qods Force and Hezbollah.

TRC-20 wallets tied to Iran. Source: Arkham

US authorities froze about $344 million in crypto linked to Iran as part of that action, Treasury Secretary Scott Bessent said, describing it as an effort to “systematically degrade Tehran’s ability to generate, move, and repatriate funds.” Tether separately said it had frozen the funds at the request of US authorities over “activity tied to unlawful conduct,” without explicitly naming Iran in its public statement.

Arkham’s wallet mapping reflects a broader push by blockchain analytics firms and stablecoin issuers to expose and disrupt sanctions evasion networks increasingly using crypto infrastructure tied to Tron and Tether.

Related: US Treasury sanctions Iran-linked crypto exchanges in first Iran-related designations

In an April 27 note, Chainalysis described a multi-step stablecoin “pipeline” in which Iranian oil revenues were routed through brokers, intermediary wallets, cross-chain bridges and decentralized finance protocols before cycling back into accounts associated with the Central Bank of Iran and IRGC-linked entities.

Iran’s wider crypto footprint

The Arkham findings come against a broader backdrop of growing Iranian crypto use. A February report on Iran’s digital assets footprint, citing estimates from TRM Labs and Chainalysis, put the country’s overall crypto transaction volume at about $11.4 billion in 2024 and $10 billion in 2025.

In May, Nobitex, Iran’s largest crypto exchange, was reportedly linked to members of a powerful family with ties to Supreme Leader Ali Khamenei, and used as a key conduit between domestic users and offshore liquidity.

In April, Iran reportedly considered charging crypto-denominated tolls to ships transiting the Strait of Hormuz, positioning digital assets as an additional revenue channel outside traditional banking rails.

Separately, Cointelegraph reported Friday that Tether had frozen more than 500 million USDT over a recent 30-day period across Ethereum and Tron, with around 506 million of that on Tron, according to BlockSec’s USDT Freeze Tracker.

A TRON spokesperson told Cointelegraph the network itself cannot monitor or block individual transactions, but pointed to the T3 Financial Crime Unit, a collaboration between TRON, Tether and TRM Labs launched in 2024, as its main channel for tackling abuse, saying it works with law enforcement “to freeze hundreds of millions of funds,” including funds tied to sanctioned entities and terror financing. Tether declined to comment.

Asia Express: North Korea denies crypto hacks, Upbit’s bank tests Ripple

Developers behind the Tezos ecosystem launched a testnet prototype for private blockchain payments designed to resist future quantum computing attacks, as concerns grow that advances in quantum technology could eventually compromise existing blockchain privacy systems.

The prototype, called TzEL, uses post-quantum cryptography and zk-STARK proofs to shield transaction data and encrypted payment metadata that could otherwise be vulnerable to “harvest now, decrypt later” attacks, where encrypted blockchain data collected today is decrypted in the future, according to Tezos.

The prototype also uses Tezos’ Data Availability Layer to handle the larger proof sizes associated with post-quantum cryptography, which developers say has been one of the main technical barriers to building scalable quantum-resistant privacy systems onchain.

Source: Tezos

According to the project’s whitepaper, the quantum-resistant zk-STARK proofs used by TzEL are roughly 300KB in size, significantly larger than privacy proofs commonly used in existing blockchain systems.

TzEL is currently live on the Tezos testnet and remains in development, while the broader Tezos (XTZ) ecosystem is still in the early stages of transitioning toward post-quantum cryptography.

Related: Rushed quantum fix may backfire for Bitcoin, Samson Mow warns

The crypto industry ramps up post-quantum security efforts

The crypto industry increased efforts to prepare for quantum computing risks throughout April, as concerns continue to grow over the long-term security of blockchain cryptographic systems.

Two major validator clients on the Solana (SOL) network introduced a test version of a post-quantum signature system called Falcon, designed to help protect the blockchain against future quantum threats while minimizing performance tradeoffs.

Meanwhile, MARA Holdings launched the MARA Foundation to support Bitcoin network development, including research into quantum-resistant security measures.

Source: MARA Holdings

Coinbase researchers also said Algorand (ALGO) and Aptos (APT) appeared further along in preparing for potential quantum threats, citing efforts to integrate quantum-resistant cryptography into their networks.

However, the researchers warned that proof-of-stake blockchains may face greater exposure to quantum computing risks because of the signature systems used by network validators.

According to Bernstein researchers, the crypto industry has around three to five years to transition toward quantum-resistant cryptographic standards before quantum computing becomes a threat to Bitcoin (BTC) security.

But not everyone agrees. In May, Adam Back, an early cypherpunk and Bitcoin contributor, said that computers capable of breaking Bitcoin signatures are likely still at least 20 years away.

Magazine: Kraken’s $600M stablecoin firm, Huione scandal deepens: Asia Express