FANC to implement wallet-centric security with new Quantum Wallet

Blockchain infrastructure developer FANC announced plans to shift the focus of security from exchanges to individual wallets through the development of its next-generation Quantum Wallet. The move comes amid heightened security concerns following recent large-scale hacking attempts on South Korea's largest crypto exchange, Upbit, and e-commerce platform Coupang, as well as the anticipated commercialization of quantum computing. FANC previously stated in April that it is developing the Quantum Wallet after receiving a technology transfer of Post-Quantum Cryptography (PQC) from South Korea's Electronics and Telecommunications Research Institute (ETRI). The wallet applies PQC algorithms at the wallet level, with its entire creation, signing, and verification processes designed to withstand quantum attacks. It will initially be implemented within the FANC and Celebe ecosystems before expanding to include integration with external services and payments on partner platforms.