AI poses greater threat to Bitcoin than quantum computing, Swan founder says
The Swan Bitcoin founder warned that hackers are using large language models to exploit security flaws with just a few prompts.
Artificial intelligence poses a more immediate threat to Bitcoin security than quantum computing, according to Swan Bitcoin founder Cory Klippsten, who warned that hackers are increasingly using AI to exploit vulnerabilities as crypto exchanges face a string of security breaches.
Speaking on Cointelegraph’s Chain Reaction, Klippsten dismissed much of the concern surrounding quantum computing as speculative, arguing that advances in large language models present a more pressing challenge as attackers use the technology to probe security weaknesses.
I think we’re finding out that the near term threat is actually AI. That it’s these LLMs in the hands of hackers going and poking through everything. And that’s where you see this over and over and over again.
The warning comes as Brazil’s Mercado Bitcoin suspended deposits and withdrawals on Monday following a security incident, with researchers estimating that more than $46 million had left its wallets. Just days earlier, exchange Binance lost $6.3 billion in an Oct. 29 hack that the Federal Bureau of Investigation (FBI) attributed to North Korean hackers.
Source: Cointelegraph
Klippsten estimated that quantum computers capable of threatening Bitcoin’s cryptography remain at least a decade away, potentially longer. He argued that the network could adopt quantum-resistant protections if the threat became credible, but said rushing to implement them now would introduce unnecessary complexity.
He warned that cryptocurrency companies cannot rely on hastily developed software when safeguarding customer assets. “You need to actually know what the hell you’re doing from a security standpoint,” he said.
Klippsten also suggested that some cryptocurrency startups and investors had used fears surrounding quantum computing to attract funding, characterizing much of the discussion as fear, uncertainty and doubt (“FUD”) rather than an imminent security concern.