Peter Schiff, a well-known Bitcoin critic, warns that hacking risks will increase due to artificial intelligence and quantum computing. This warning follows the Coldcard hardware wallet hack, which drained approximately $89 million in Bitcoin from over 1,200 addresses. The hack was caused by a firmware flaw affecting the random seed generation process, not by quantum technology. Initial estimates were around $70 million before rising to approximately $89 million. Most cryptographers point out that no viable quantum computers currently threaten Bitcoin, giving the network time to prepare through upcoming protocol improvements.
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