People in the crypto community are worried that AI may pose a threat to their blockchain wallets.
This concern about "clinging tightly to crypto assets" began on Wednesday: Justin Drake, a researcher at the blockchain platform Ethereum, stated on X that those holding digital currencies should plan to enter "bunker mode" by transferring their funds to new addresses.
Drake cites the OpenAI model, which continuously solves what were once considered impossible mathematical problems. It is stated that hackers may in the future utilize these advancements to derive private keys from the public keys of blockchain wallets, which are typically protected by mathematical calculations.
He said, "What was published yesterday by OpenAI clearly indicates that mathematical super-intelligence has arrived." He was referring to the ChatGPT developer, which released hundreds of new AI mathematical achievements on Tuesday.
"Today, I call on the blockchain industry to calmly begin planning for a 'bunker mode,'" he added.
The attitude of Ethereum founder Vitalik Buterin is more cautious. Buterin stated on X that people should not “hurriedly transfer their funds to new wallets today.”
However, he also stated that the crypto industry needs to find a more robust method for encrypting private keys.
Buterin said, "We should take seriously the risks that the acceleration of AI brings to cryptography in terms of mathematics."
Bitcoin transactions, as well as transactions of other currencies, rely on cryptography to ensure security. This is a type of encoding system: transactions are encrypted using public keys, while access to Bitcoin itself is controlled by private keys.
A Wall Street analyst once stated this year that, given the complexity of the calculations, it would take “trillions of years” for supercomputers to derive a private key from a public key.
Drake believes that AI might be able to find a workaround in just one week.
Other encryption researchers believe that the warning from Drake came too early, and it will not be possible to crack the encryption using AI in the short term.
German crypto entrepreneur Chris Seedor said on X: “We’ve just jumped from ‘AI producing surprising mathematical results’ to ‘therefore maybe ECDSA will collapse within a few months.’” He was referring to a common crypto system.
People in the crypto community were previously concerned that quantum computers would crack private keys. In his view, AI is now set to replace quantum computers and become the main threat in the field of cryptography, according to Drake.
He said, "In recent days, human intuition regarding mathematics has been struck. Those long-held and unquestionable assumptions have fallen."
