Swan Founder Calls AI a More Serious Threat to Bitcoin than Quantum Computing

Swan Bitcoin founder Cory Klippsten believes that artificial intelligence poses a more immediate threat to Bitcoin's security than quantum computing. Speaking on the Cointelegraph Chain Reaction program, he called a significant portion of concerns around quantum computing speculative and stated that the development of large language models creates a more pressing issue: attackers are using this technology to find vulnerabilities.

"I think we're finding out that in the short term, the real threat is AI. It's about these large language models in the hands of hackers penetrating everywhere and probing everything. This is what we are seeing over and over again," Klippsten said.

The warning came after the Brazilian crypto exchange Mercado Bitcoin on Monday suspended deposits and withdrawals following a security incident. Researchers estimate that over $46 million was taken from its wallets. Just a few days before that, Binance lost $6.3 billion in a hack on October 29; the U.S. Federal Bureau of Investigation (FBI) attributed the attack to North Korean hackers.

Quantum Computing

Klippsten estimated that it will be at least 10 years, if not more, before quantum computers capable of threatening Bitcoin's cryptography emerge. He stated that the network will be able to implement quantum-resistant safeguards if the threat becomes real, but rushing to implement such measures now would create unnecessary complexity. He warned that cryptocurrency companies cannot rely on hastily developed software to protect clients' assets and emphasized that from a security standpoint, it is crucial to know what you are doing.

Klippsten also suggested that some cryptocurrency startups and investors have used concerns around quantum computing to attract funding. He characterized much of the discussion as fear, uncertainty, and doubt rather than a discussion of an imminent security threat.