The Shanghai University Research: A Quantum Leap or Overstated Claims?

The Reported Breakthrough

According to an October 11 report in the South China Morning Post (SCMP), researchers from Shanghai University have successfully employed a D-Wave quantum computer to breach encryption algorithms used to secure bank accounts, top-secret military data, and cryptocurrency wallets. The researchers claim this to be "the first time that a real quantum computer has posed a real and substantial threat to multiple full-scale SPN [substitution-permutation network] structured algorithms in use today."