Swan Bitcoin founder and CEO Cory Klippsten warned that artificial intelligence is a more immediate security threat to Bitcoin than quantum computing, telling Cointelegraph’s Chain Reaction that hackers are already using large language models to probe crypto systems for weaknesses. “I think we’re finding out that the near term threat is actually AI,” Klippsten said, adding that attackers can identify security flaws with just a few prompts and are “poking through everything.”
His comments follow a string of exchange security breaches. Brazilian exchange Mercado Bitcoin suspended deposits and withdrawals on Monday, Nov. 2 after a security incident, with researchers estimating that more than $46 million left its wallets. Days earlier, on Oct. 29, Binance lost an estimated $6.3 billion in a hack that the FBI attributed to North Korean hackers. The Mercado Bitcoin incident has not yet been tied to any group, and loss figures for both events remain estimates.
Klippsten dismissed quantum-computing fears as largely speculative, estimating that quantum computers capable of threatening Bitcoin’s cryptography are at least a decade away. He argued that rushing to adopt quantum-resistant protections now would add needless complexity, and said some startups and investors have used quantum fears to attract funding and spread “FUD.”
In his first public interview since the Binance hack, former Binance CEO Changpeng “CZ” Zhao told the Talking Tokens podcast that AI is accelerating cyberattacks and that crypto companies should invest in AI-based defenses, security personnel, and partnerships with AI security providers. Zhao’s remarks came amid a separate AI-assisted breach at blockchain analytics firm Chainalysis. “The speed of hacking is going to pick up because of AI capabilities [being] so strong now. At the same time, we’ve got to use more AI to defend. The only way to fight a monster is to kind of become that monster,” Zhao said.
Zhao framed the threat as extending beyond crypto into stablecoins, tokenized stocks, real-world assets, and traditional finance. He said he learned of the Binance incident around midnight in the UAE and focused on communicating with the community while the team contained the attack. According to Binance, hackers used a fake job interview to compromise an employee’s computer before leveraging an internal AI tool, and the exchange detected and prevented 57 suspected North Korea-linked cyber threats in 2026. Zhao called for an industry-wide security alliance to share lessons, conduct cross-audits, and freeze stolen funds more quickly, while welcoming government assistance. He noted that such incidents have national security implications and said AI could ultimately help identify vulnerabilities while blockchain supports faster AI-driven transactions.
