10h05 ▪ 4 min read ▪ by Fenelon L.
Summarize this article with:
The founder of Avalanche believes that the crypto industry is too focused on a potential break of cryptography. According to him, artificial intelligence could first exploit the vulnerabilities already present in software and wallets.
In Brief
- Emin Gün Sirer considers the debate on AI and crypto security largely exaggerated and points first to software bugs.
- He believes that the code of Ripple and other networks might hide vulnerabilities that AI will detect more easily than humans.
- No specific vulnerability has been reported in this debate, launched on October 7 by researcher Justin Drake.
The AI Threat Revives the Debate on Ethereum Security
The debate gained momentum on October 7, when Justin Drake, a researcher at the Ethereum Foundation, called on the industry to prepare a “bunker mode”. He specifically recommends transferring funds to never-before-used addresses, to keep public keys hidden behind a hash function.
His concern involves ECDSA, the signature mechanism used by many wallets. According to his scenario, the accelerated mathematical progress driven by AI could weaken this system within a few months, rather than over several years.
This hypothesis has sparked mixed reactions. Yehuda Lindell of Coinbase sharply criticized this perspective, while the technical director of Ledger highlighted the risks linked to a hasty migration. Vitalik Buterin acknowledged the existence of a serious risk without calling for urgent action.
Emin Gün Sirer Focuses First on Software Vulnerabilities
On October 9, the founder of Avalanche took a stand on X. “The debate on the threat AI poses to crypto is largely just talk,” he writes. In his view, AI will find flaws in existing systems long before breaking ECDSA. These vulnerabilities could allow attackers to steal billions of dollars from software libraries and wallets.
Sirer notably cites Ripple and other networks that hold significant value without undergoing thorough code review. According to him, believing that no flaw hard to detect by humans escapes developers is an illusion. AI could precisely facilitate discovering these vulnerabilities, sometimes unknown to publishers and exploited before their fixes.
Nevertheless, Sirer does not completely dismiss the cryptographic risk. He considers it appropriate to prepare backup solutions and indicates that Avalanche is exploring alternatives based on hashing. However, he believes securing existing code should come first.
Recent incidents reinforce his argument. The crypto sector lost 766 million dollars in September. Moreover, a security team demonstrated this summer that AI could detect 85 critical vulnerabilities.
Cryptography or Bugs: Two Risks to Anticipate
These two threats remain distinct. A break of ECDSA would potentially compromise the security of many cryptographic keys. In contrast, software vulnerabilities already expose users to attacks, without waiting for a mathematical breakthrough.
The issue also concerns Bitcoin: over six million bitcoins would rely on already visible public keys, representing more than 31% of the circulating supply. The migration recommended by Drake aims to reduce this exposure but does not resolve software vulnerabilities.
The debate therefore remains open. While awaiting potential breakthroughs capable of weakening cryptographic signatures, developers must also strengthen the systems that protect funds. To delve into these issues, find Cointribune articles dedicated to artificial intelligence.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.