Artificial intelligence (AI) is becoming a more immediate threat to crypto security than quantum computing, according to Swan Bitcoin founder and CEO Cory Klippsten.
Speaking on Cointelegraph’s Chain Reaction programme, Klippsten warned that hackers are using large language models (LLMs) to search for security weaknesses across cryptocurrency companies.
He argued that AI presents a more pressing challenge because attackers can already access and use these tools. In contrast, quantum computers capable of breaking Bitcoin’s cryptography remain years away.
Klippsten said:
“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.”
His comments highlight growing concerns about how AI could make cyberattacks easier to carry out and increase the pressure on cryptocurrency companies to strengthen their security systems.
Why AI Crypto Security Risks Are Growing
Klippsten’s warning centres on how hackers can use AI tools to identify weaknesses in software and digital infrastructure.
Large language models can analyse information, review code and help users identify potential vulnerabilities. This could allow attackers to examine systems more quickly and reduce the time needed to find possible entry points.
AI can also make social engineering attacks more convincing. Hackers may use the technology to create realistic phishing messages and impersonate employees, service providers or other trusted contacts.
For cryptocurrency companies, these risks extend beyond their blockchain networks. Employees, internal systems, software developers and customer support channels can all become targets.
The concern is that AI could make existing hacking methods more efficient, giving attackers an advantage without requiring them to develop entirely new techniques.
Quantum Computing Remains a Long-Term Concern
While Klippsten considers AI the more immediate threat, he does not dismiss the potential risks of quantum computing.
He estimated that quantum computers capable of threatening Bitcoin’s cryptography could still be at least a decade away, possibly longer.
Quantum computing raises concerns because sufficiently advanced machines could potentially undermine the cryptographic systems that protect digital assets.
However, Klippsten believes Bitcoin has time to prepare for that possibility. He argued that the network could introduce quantum-resistant protections if the threat becomes credible.
He also cautioned against rushing such changes, as poorly planned upgrades could introduce unnecessary complexity into the network.
His position is that crypto companies should pay more attention to security threats that already exist rather than allowing future technological risks to overshadow immediate vulnerabilities.
Recent Crypto Attacks Highlight Security Concerns
Klippsten’s comments came amid a series of security incidents affecting cryptocurrency platforms.
Brazilian exchange Mercado Bitcoin suspended deposits and withdrawals following a security incident. Researchers estimated that more than $46 million had left its wallets.
The incident followed the October 29 Binance hack, which resulted in an estimated $6.3 billion impact. The FBI attributed the attack to North Korean hackers.
These incidents have renewed questions about how cryptocurrency companies protect their systems and customer assets.
However, Klippsten did not directly attribute either incident to AI in his comments. His broader warning was that hackers are increasingly using large language models to probe security weaknesses across the industry.
You may also like : CZ Thanks US Agencies for Freezing Stolen Binance Funds
Crypto Companies Face Pressure to Strengthen Security
The growing use of AI in cyberattacks creates another challenge for cryptocurrency exchanges, wallet providers and other digital asset businesses.
Companies must protect more than customer funds stored on their platforms. They also need to secure employee accounts, internal communications, software development processes and third-party services.
Stronger access controls, regular security testing, employee training and effective incident response plans can help reduce these risks.
Companies must also ensure that employees understand how to identify suspicious messages and verify unusual requests before granting access or approving transactions.
Ultimately, Klippsten’s warning points to a shift in the crypto security debate. While quantum computing remains a potential long-term concern, AI is already available to attackers.
For the industry, the priority is to ensure that the same technology making software development faster does not give hackers an easier way to exploit weaknesses.
