A recent white paper from Google Quantum AI reveals that the resources required to break cryptocurrency encryption have been reduced to approximately 500,000 physical qubits, a 20-fold decrease from previous estimates. This development shifts the quantum threat from a distant hypothesis to a quantifiable mid-term risk. Current vulnerabilities primarily target Elliptic Curve Cryptography-based signature mechanisms, affecting both in-transit transactions and static assets. The report highlights that around 6.9 million BTC, representing about 33% of the total supply, and numerous Ethereum accounts have exposed public keys, posing potential risks. Although hardware capabilities still lag, algorithmic optimizations continue to advance, with the anticipated 'Q-Day' potentially occurring between 2028 and 2035. The primary challenge in transitioning lies in governance rather than technology.