European Commission warns of quantum computing threat to current encryption systems, citing an internal report that attackers could already gather encrypted data today and decrypt it once quantum technology becomes available. Commissioner Henna Virkkunen urged EU member states to migrate to post‑quantum cryptography before 2030, while German MEP Moritz Körner described the situation as a "nightmare" for security policy. The warning highlights that passwords, financial data, government secrets and SME intellectual property could be exposed if encryption is compromised. The commission calls for rapid development and deployment of quantum‑resistant algorithms, noting that recent attacks on European IT infrastructure and a public database of 150 million compromised accounts on major platforms underscore the urgency of the threat.

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