PiCK
AI May Crack Crypto Wallet Security Before Quantum Computers, Ethereum Researcher Says
Summary
- Justin Drake, a researcher at the Ethereum Foundation, warned that advances in AI and mathematics could render ECDSA security for digital-asset wallets ineffective within months.
- Drake said the industry needs to prepare a Bunker Mode, including gradually moving assets to new addresses whose public keys have not been exposed and rotating keys after transactions are signed.
- He urged major institutions to strengthen cold wallet security, adopt hash-based signature technologies such as SPHINCS for core signing systems, and accelerate Ethereum's transition to a hash-based cryptographic framework.
Forecast Trend Report by Period
Advances in artificial intelligence could undermine the security of digital-asset wallets before quantum computers become commercially viable, according to a new warning.
Wu Blockchain reported on October 8 that Justin Drake, a researcher at the Ethereum Foundation, said progress in AI and mathematics could render the Elliptic Curve Digital Signature Algorithm, or ECDSA, widely used in digital-asset wallets, ineffective within months rather than years.
Drake said the industry should prepare a so-called "Bunker Mode" in response. He proposed gradually moving assets to new addresses whose public keys have not been exposed and rotating keys after transactions are signed. He also cautioned against hasty asset transfers or excessive fear.
He also urged major institutions to strengthen cold-wallet security. For core signing systems, he recommended considering hash-based signature technology such as SPHINCS and called on Ethereum developers to speed a shift to hash-based cryptography.
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