Vitalik: Users Should Not Rush to Transfer Funds to New Wallets

On October 8, Vitalik published a statement advising users against hastily transferring funds to new wallets. Instead, he emphasized the need to take seriously the risks posed by AI-accelerated mathematical computations to cryptography and to minimize reliance on cryptographic schemes that are not only vulnerable to quantum computing attacks but may also be susceptible to AI attacks. He pointed out that the new core risk areas are precisely ML-DSA, FHE (Fully Homomorphic Encryption), and lattice-based cryptography. This is another reason, aside from the threat of quantum computing, explaining why the security of ECDSA may collapse faster than expected, leading to the suggestion of "using new addresses." Currently, most people still believe that "elliptic curve algorithms will be broken, but hash algorithms and lattice-based algorithms are secure," but advancements in AI in the mathematical field over the next two years are likely to severely undermine the practical security of lattice-based algorithms.

Vitalik recommends that, where feasible, hash-based schemes should be prioritized over lattice-based schemes; for any lattice-based schemes, one must exercise extreme caution regarding parameter sizes; for privacy protocols, it is strongly advised not to put encrypted notes on-chain, but rather to transmit them off-chain through third-party mechanisms; if it is not too cumbersome, storing funds in addresses that have not been used for any transactions is a good idea. For multisig wallets, confirming off-chain is preferable to on-chain confirmation. This way, the signatures from the signers' wallets will not be exposed on the public network; in the event that the ECDSA algorithm is cracked earlier than expected due to advancements in AI technology, this multisig scheme can at least "smoothly downgrade" to a "1-of-1" mode (where the party responsible for collecting signatures controls the funds), which is far better than the dire situation of "funds being taken at will."

Previously, Justin Drake stated that ECDSA could be cracked in a worst-case scenario within months and advised large holders to migrate assets to new addresses.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.