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.
Swan Bitcoin founder Cory Klippsten contends that artificial intelligence poses a greater immediate threat to Bitcoin's security than quantum computing. During an appearance on Cointelegraph's Chain Reaction podcast, Klippsten argued that hackers are increasingly leveraging large language models (LLMs) to exploit vulnerabilities in crypto exchanges, which have experienced a series of security breaches.
While he dismissed concerns about quantum computing as speculative, Klippsten emphasized that the near-term threat is AI-powered attacks using LLMs. Recent incidents, such as Brazil's Mercado Bitcoin suspending transactions and Binance losing $6.3 billion in a hack attributed to North Korean hackers, support his warnings. Klippsten estimated that quantum computers capable of compromising Bitcoin's cryptography would remain a theoretical risk for at least a decade, if not longer.
He cautioned that cryptocurrency companies should avoid hastily implementing quantum-resistant protections, as they could introduce unnecessary complexity. Klippsten also noted that some startups and investors have exploited fears surrounding quantum computing to attract funding, suggesting that much of the discussion surrounding the technology should be viewed as fear, uncertainty, and doubt (FUD) rather than an imminent security concern.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
