We all thought banking and military security was impenetrable? That was, until Chinese researchers used a D-Wave quantum computer to execute what they claim as the first successful quantum attack on widely used encyption algorithms which pose a "real and substantial threat" to the banking and military sectors.
In a new report by the South China Morning Post picked up by The Quantum Insider, which I saw posted on X which you can see embedded above, the Chinese quantum computer has cracked multiple SPN algorithms, which is "way bigger than cracking the ENIGMA code, the future of encryption is at stake" we're warned.
We have thought that the digital world is secure, especially in a during and post-COVID world where in many countries across the world they pushed hard into the all-digital, all-cloud life. Well, now we have Chinese scientists led by "brainiac" Wang Chao from Shanghai University has "just pulled off a stunt that should have the NSA, the White House, and every crypto bro out there sweating bullets" says Huo on X.
Using a quantum computer from Canada-based D-Wave Systems, these Chinese tech wizards cracked open encryption methods that our banks and military "thought were ironclad". These algorithms include Present, Gift-64, and Rectangle, something Huo says that have "names that sound like they belong in a kid's toy box but are actually the backbone of our digital security", which is a great analogy... scary, but well put.
- Read more: Los Alamos nuclear weapons lab buys D-Wave's next-gen quantum computer
- Read more: D-Wave goes Down Under, Leap quantum cloud service now in Australia
Huo says there is a kicker: "this isn't just a minor glitch in the matrix. These guys are on the verge of breaking AES-256, the so-called "military-grade" encryption. If that doesn't make you question the safety of your online banking, nothing will. So, while D-Wave Systems might be busy helping Lockheed Martin with fighter jets and Google with image recognition, the real action is happening in the shadows of quantum cryptography".
It's a huge deal, and something I think we'll see covered massively in the coming days and months... especially as we lead into the 2024 US presidential elections on November 5, and then the inauguration on January 20, 2025. Huo adds that "it's a brave new world, and our old-school encryption methods are about to get a rude awakening. Buckle up, because the future of cybersecurity just got a whole lot more uncertain".

On the flip side: this is China... how much do we truly believe? Another side of the coin: do we not think that the US and other countries have cracked this already with the amount of computing power, intelligence, and AI that has been used behind the scenes for years?
If consumers are using AI now, it means AI has probably been used for decades behind the scenes to work out how to crack all forms of encryption. Still, a scary step in the wrong direction, especially right now with China conducting military drills around Taiwan, and Chinese military saying they would drop nuclear bombs on Japan continuously if they interfered with its plans for Taiwan.
The Quantum Insider provided an excellent insider brief:
- Chinese researchers, using a D-Wave quantum computer, claim to have executed what they are calling the first successful quantum attack on widely used encryption algorithms, posing a "real and substantial threat" to sectors like banking and the military, as reported by SCMP.
- The D-Wave Advantage, initially designed for non-cryptographic applications, was used to breach SPN-structured algorithms but has not yet cracked specific passcodes, highlighting the early-stage nature of this threat.
- Despite the advance, the researchers acknowledge limitations such as environmental interference, underdeveloped hardware and the inability to develop a single attack method for multiple encryption systems still hinder quantum computing's full cryptographic potential.