Hacked Bitcoin Wallet Maker Warns of AI Failure to Detect Bug
The company at the center of a Bitcoin hack has warned that artificial intelligence failed to detect the software flaw that was exploited to steal users’ funds, now estimated at $130 million.
Coinkite, the manufacturer of stolen Bitcoin wallets, has disclosed that artificial intelligence failed to identify the software vulnerability exploited in the attack, which is estimated to have cost users US$130 million. The Canadian-based company has urged other firms to conduct thorough reviews of their AI-assisted security measures. The Coldcard hack has spotlighted the risks associated with self-custody, a core tenet of cryptocurrency, and raised concerns about the trustworthiness of the digital asset ecosystem.
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Also reported by 2 other outlets
- Hacked Bitcoin wallet maker Coldcard warns of AI failure to detect bug straitstimes.com
- Hacked bitcoin wallet maker warns AI failed to detect bug moneyweb.co.za
