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Ontario securities watchdog warns about quantum-powered data theft
Nov 10, 2026 · Summarized by Fundy Tech from The Globe and Mail
The 30-second version
The Ontario Securities Commission says firms should prepare for criminals stealing encrypted data now and decrypting it later with quantum computers. It is urging inventories of cryptographic assets.
Key points
- The OSC published its first report on quantum risk.
- It warns about “harvest now, decrypt later” theft.
- Firms are told to inventory cryptographic assets.
Why it matters
Businesses and households both rely on encryption for sensitive data. The report says information stolen today could be valuable later if quantum computing advances.
Who’s affected: Capital markets firms and encrypted data holders
What to do
- Inventory cryptographic assets and sensitive data.
- Review long-term encryption risks now.
- Track quantum security guidance from regulators.
Original reporting
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