Swan Bitcoin Founder Warns of Growing AI Cybersecurity Risks in Crypto Ecosystem
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AI poses greater threat to Bitcoin than quantum computing, Swan founder says
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Published: Nov 2, 2026
The Swan Bitcoin founder, Cory Klippsten, warned that hackers are using large language models to exploit security flaws with just a few prompts.
Artificial intelligence poses a more immediate threat to Bitcoin security than quantum computing, according to Klippsten. He attributed this to hackers increasingly leveraging AI to exploit vulnerabilities, as evidenced by recent security breaches at crypto exchanges.
"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," he stated.
The warning comes on the heels of significant security incidents, including:
- Mercado Bitcoin suspending deposits and withdrawals on Monday following a security breach, with an estimated $46 million leaving its wallets.
- Binance experiencing a $6.3 billion hack on October 29, attributed by the FBI to North Korean hackers.
Klippsten estimated that quantum computers capable of threatening Bitcoin's cryptography are still at least a decade away, possibly longer. He suggested that the network could adopt quantum-resistant protections if the threat materializes, but cautioned against rushing to implement them prematurely, emphasizing the importance of thorough security measures.
"You need to actually know what the hell you’re doing from a security standpoint," he said.
Klippsten also criticized some cryptocurrency startups and investors for using fears surrounding quantum computing to attract funding, characterizing much of the discussion as fear, uncertainty, and doubt ("FUD") rather than a genuine security concern.