AI poses greater threat to Bitcoin than quantum computing, Swan founder says

Artificial intelligence poses a more immediate threat to Bitcoin than quantum computing, according to Cory Klippsten, founder of Swan Bitcoin. He said hackers are increasingly using large language models to probe security weaknesses with only a few prompts. The warning comes as cryptocurrency exchanges confront a series of damaging breaches.

Klippsten’s assessment, made on Cointelegraph’s Chain Reaction, challenges the industry’s focus on quantum risks. He argued that near-term attacks are already being enabled by AI tools in hackers’ hands. He described the pattern as recurring across the sector.

The comments followed Brazil’s Mercado Bitcoin suspending deposits and withdrawals on Monday after a security incident. Researchers estimated that more than $46 million had left its wallets. Days earlier, Binance lost $6.3 billion in an Oct. 29 hack.

The FBI attributed the Binance breach to North Korean hackers. The scale of the losses underscores how exchanges remain vulnerable to sophisticated intrusion. Klippsten said companies cannot rely on hastily developed software to protect customer assets.

He estimated that quantum computers capable of threatening Bitcoin’s cryptography remain at least a decade away, possibly longer. He said the network could adopt quantum-resistant protections if the threat became credible. Rushing to implement them now would introduce unnecessary complexity, he added.

Klippsten also warned that some crypto startups and investors have used quantum fears to attract funding. He characterized much of the discussion as fear, uncertainty and doubt rather than an imminent security concern. He stressed that firms need real security expertise.

The outlook suggests AI-enabled attacks will test exchange defenses while Bitcoin’s quantum debate continues. Klippsten’s remarks place security readiness, not speculative technology, at the center of the industry’s immediate agenda. Exchanges face pressure to strengthen controls as regulators and users demand accountability.

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