AI is a bigger near-term Bitcoin security risk than quantum computing, Swan founder says
Swan founder points to AI hackers as the urgent threat
Cory Klippsten, founder of Swan Bitcoin, said artificial intelligence is a more immediate threat to Bitcoin security than quantum computing. Speaking on Cointelegraph's Chain Reaction show, he said hackers are already using large language models (LLMs) — AI tools trained on text that can answer questions and write code — to look for security weaknesses in crypto systems.
His comments come during a run of security problems for crypto exchanges, including incidents at Mercado Bitcoin and Binance.
Key points
- Klippsten says the near-term danger comes from hackers using LLMs to probe for flaws, not from quantum computers.
- He estimates quantum computers able to threaten Bitcoin's cryptography are at least a decade away, possibly longer.
- He argues Bitcoin could adopt quantum-resistant protections later if the threat turns out to be real.
- His statements are opinions from an interview, not confirmed technical findings.
What Klippsten said about AI and quantum computing
Klippsten dismissed much of the worry around quantum computing as speculative. He said the urgent issue is different:
"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."
On the quantum side, he said rushing quantum-resistant protections into Bitcoin now would add unnecessary complexity. In his view, the network can switch to such protections later if the threat becomes credible.
He also cautioned that crypto companies cannot depend on hastily built software when protecting customer funds. "You need to actually know what the hell you're doing from a security standpoint," he said. He added that some crypto startups and investors had used quantum fears to attract funding, calling much of that talk fear, uncertainty and doubt ("FUD") rather than a real, near-term concern.
A wave of exchange breaches behind the warning
The interview aired as exchanges faced several incidents. Brazil's Mercado Bitcoin suspended deposits and withdrawals on Monday after a security incident, and researchers estimated that more than $46 million had left its wallets. Days earlier, on Oct. 29, exchange Binance lost $6.3 billion in a hack that the FBI attributed to North Korean hackers.
What is confirmed and what is opinion
Confirmed from the source: Klippsten made these remarks on Cointelegraph's Chain Reaction; Mercado Bitcoin suspended deposits and withdrawals after a security incident; researchers estimate over $46 million left its wallets; Binance lost $6.3 billion in an Oct. 29 hack the FBI attributed to North Korean hackers.
Opinion or estimate: the claim that AI is a bigger near-term threat than quantum computing, the estimate that a quantum threat is at least a decade away, and the suggestion that some companies have used quantum fears for fundraising are all Klippsten's views. They are not independently verified technical assessments.
Why this matters for crypto holders
If hackers are using AI tools to find vulnerabilities, exchanges and wallet providers — the software that stores and moves crypto — face pressure to keep their systems tested and up to date. The recent breaches at Mercado Bitcoin and Binance, as reported in the source, show that security failures have direct costs for users, including frozen deposits and withdrawals.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.