A $2 billion injection of federal funding is giving the quantum computing sector a much-needed shot of adrenaline. But beneath the enthusiasm lies a far more sobering reality.
That’s according to Moody’s, which designated quantum technology as the next major cyber threat facing financial institutions in a sector report this week. The credit rating agency believes the risk has graduated from a cryptocurrency-specific problem to a broader threat affecting banks and custodians.
“As digital finance markets attract a growing share of institutional clientele, cyber risk linked to blockchain-based platforms has evolved from a niche risk to one that is mainstream,” Moody’s analysts wrote.
A string of recent, large-scale attacks has drawn attention toward these vulnerabilities. These include a 2024 data breach at Coinbase that exposed the credentials of 70,000 customers, followed by a massive cryptocurrency heist on Bybit—valued at roughly $1.5 billion—which the exchange disclosed in 2025.
The risk also extends to quantum computing. Citing Citi Institute research, Moody’s noted that a quantum breach targeting payment infrastructure could render between $2 trillion to $3 trillion in indirect economic losses.
Last year, Barron’s reported on the rise of cryptographically relevant quantum computers—theoretical, fault-tolerant machines powerful enough to unravel modern public-key cryptography.
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