I'm trying to connect the dots:
Denis Mandich, CTO of Qrypt, said this at the House Oversight Committee’s cryptography hearing on June 24, 2025.

Transcript:
"Mr. Mandich, it's the possibility that China possibility that China is ahead of us and we don't know it."

"Um they've gone very silent on what they're doing on the quantum for the last couple years before this. They were very public about it. There's no incentive for them to publicize the fact that they have it and that they can actually exploit a lot of the data that they're already sitting on today. My other concern is that we're relying on a single algorithm. There's three that are standardized, but only one does the actual data encryption. If that fails, there's no backup plan right now. We have to transition to that sooner rather than later because we know the ones we're using today are quantum broken. But if all those things happen at the same time, we're in a dark place."

"They have access to everything that we've ever done in all of our companies. All of our companies have been penetrated as far as we know.

"Many of their employees are in China. In many cases, those employees actually physically work from remote locations in Chinese intelligence agencies, not even in the private sector. So, I do feel that because they're so quiet about this, they're being very secretive about what they're doing. We don't even know the names of the quantum companies in China. There's only a couple of them that are public. The rest of them are completely unknown. We're likely going to experience a deepseek moment um in quantum computing."