Chinese scientists have asserted that they utilized quantum computers to crack the RSA encryption employed by numerous industries, including banking, mobile phones, and data storage.

The researchers published an article last month asserting that they had used their algorithm to factor a number with 48 bits on a quantum computer with ten qubits, yet had not tested it on a larger system.

Many experts have deemed the claims to be overblown and lacking evidence that would confirm that existing encryption standards have been breached.

Encryption is crucial for protecting information from being accessed by unauthorized parties and is vital for secure networks such as the Bitcoin network and cryptocurrency.