Quantum computing risks are real. There has been a conference for some 10y called PQC. (It prly still exists.) The risks are in that by entangling particles, probabilities can be computed that point towards answers where otherwise in classical computing it would be a complete guess. However, it is not possible to "cheat" on every kind of math problem like this.

Quantum computing risks and Post-Quantum Computing are very much real research and engineering, with some 6 or so viable mainstream flavors.