Artificial intelligence is becoming an operational threat for crypto, following warnings from Justin Drake, a cryptography researcher at the Ethereum Foundation, and Qiao Wang, Alliance’s co-founder, who describes the emergence of mathematical superintelligences as imminent. According to Qiao Wang, the crypto ecosystem is better prepared than other sectors because its fundamentals have been exposed to highly competent hackers for more than a decade, fostering a strong adversarial security culture. This preparation is also supported by largely irreversible transactions, which limit the possibilities of recovery after an attack. Traditional finance is taking the threat seriously as well: the Financial Stability Board ranks the offensive use of AI among its immediate concerns, while three European regulators called in July for stronger governance of the most advanced models. Nearly all banks and insurers are already using AI in production, according to Denis Beau, making financial stability risks more concrete.
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