Ethereum Researcher urges us to move funds to fresh wallet

[shinratensei_]

Anyone here who stumbled upon this post on X recently?

https://x.com/drakefjustin/status/2107837081313505768

The post is long and it talks about crypto wallet might break before quantum computer due to AI acceleration. For context, the researcher become concerned after OpenAI dropped 722 math discoveries in one go and said that mathematical superintelligence is upon us. That aside, i want to talk about one of the interesting talking point below from that X post above

Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase).

The researcher urges us to move funds to fresh wallet, which is a wallet that never interacted with protocols nor signed transaction. I know many of us here have interacted with defi protocols even staking at some places, what do you think about this? Do you think we should be doing it?

[DiscoJoker]

Anyone here who stumbled upon this post on timeline recently?

https://x.com/drakefjustin/status/2107837081313505768

The post is long and it talks about crypto wallet might break before quantum computer due to AI acceleration. For context, the researcher become concerned after OpenAI dropped 722 math discoveries in one go and said that mathematical superintelligence is upon us. That aside, i want to talk about one of the interesting talking point below from that X post above

Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase).

The researcher urges us to move funds to fresh wallet, which is a wallets that never interacted with protocols nor signed transaction. I know many of us here have interacted with defi protocols even staking at some places, what do you think about this? Do you think we should be doing it?

Exactly, my dear friend. What intrigues me is this: who really didn’t know? Deep down, everyone know it. The problem is that acknowledging the truth means facing a reality that many would rather ignore. People don’t want to open their eyes because, sometimes, it’s more comfortable to keep believing what they wish were true.

In the same way, a small group of coins has responded to this movement, with QRL, for example, surging 70% in a single day. Oops, I think I’m saying too much. DYOR.

[pooya87]

Most of the things we read online about AI is just advertisement by the companies trying to appear "useful" to solve complex problems nobody was able to solve. We may even call it a scam to some extent. The so called "mathematical problems" they claim to have solved aren't as cool as they claim.

Take the Navier–Stokes fluid dynamic that OpenAI claimed to have solved. First of all it is a big leap to claim they can also solve ECDLP even if they had actually solved it. But also they didn't actually solve anything. It was just publicity stunt. Their tool used an existing model developed in 2023 to get closer and the Clay Mathematics Institute still categorizes it as "active" not solved.
And yet in the media they are still claiming AI has solved this!!!

As for the usual quantum computers, we still need computation power to solve ECDLP and for the coins to be at risk. AI is not going to change that.

[Charles-Tim]

Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase).

It is highly unfortunate that it is people that will be moving funds to a new address when the wallet can do it automatically, but altcoins wallet developers make it not possible just as many of them do not make it possible for bitcoin. But bitcoin wallets that are open source and reputed will automatically send change to change address. What that matter is that you should not reuse the same address to receive coins the second time, just use it only ones.

[hugeblack]

If there were an imminent threat regarding the weakness of entropy in Bitcoin and popular wallets, these measures would have been urgent. I see this research as an indirect promotion of what OpenAI can do and thus obtain more funding and loans.

[Curious T]

I read the whole post, and nothing is convincing of an imminent threat. It's just the same things we've been hearing, but this time with OpenAI. A lot of things are exaggerated. I'm not saying there can be no threat now, but I didn't see any from his post. If there was such an issue, we would know.

It is highly unfortunate that it is people that will be moving funds to a new address when the wallet can do it automatically, but altcoins wallet developers make it not possible just as many of them do not make it possible for bitcoin.

I thought ETH wallets cannot have change addresses? Is there a way an ETH wallet can have a change addresses that will automatically move the balance to a new address after signing a transaction?

[Charles-Tim]

I thought ETH wallets cannot have change addresses? Is there a way an ETH wallet can have a change addresses that will automatically move the balance to a new address after signing a transaction?

It depends on the wallet that you are using. I do not know much about ethereum and other altcoins, but if you check the iancoleman BIP39 tool, you will see many addresses that ethereum and other altcoins can generate.

https://iancoleman.io/bip39/

Change the coin from bitcoin to ethereum on the tool, generate seed phrase and scroll down to see the addresses.

Iancoleman is not recommended for generating seed phrase, but you can use it to know how a crypto wallet should look like and it might help during a coin recovery.

[ultrloa]

Anyone here who stumbled upon this post on X recently?

https://x.com/drakefjustin/status/2107837081313505768

The post is long and it talks about crypto wallet might break before quantum computer due to AI acceleration. For context, the researcher become concerned after OpenAI dropped 722 math discoveries in one go and said that mathematical superintelligence is upon us. That aside, i want to talk about one of the interesting talking point below from that X post above

Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase).

The researcher urges us to move funds to fresh wallet, which is a wallet that never interacted with protocols nor signed transaction. I know many of us here have interacted with defi protocols even staking at some places, what do you think about this? Do you think we should be doing it?

What actually say actually make sense. Because he just warn people on possible bad situation that might possible to happen in future.

Not everyone is aware on how they can make their wallets safe from that type of attack. Then its good that he just drop a more simpler suggestion on which anyone can easily execute it.

Although we are not sure about if what he say would really happen. But its really better  for us to be prepared all the time for any possible exploits and other hacking situations.

[JeromeTash]

I thought ETH wallets cannot have change addresses? Is there a way an ETH wallet can have a change addresses that will automatically move the balance to a new address after signing a transaction?

It's not possible for Ethereum. Bitcoin's Unspent Transaction Output (UTXO) model is what makes it possible for the change to move to a new change address. Remember for Ethereum, you just send the same exact amount of Ethereum you want to spend, and the rest remains in the sender's address.

Sending the remaining Ethereum to a new address is the only way to move your "change"

[shinratensei_]

Most of the things we read online about AI is just advertisement by the companies trying to appear "useful" to solve complex problems nobody was able to solve. We may even call it a scam to some extent. The so called "mathematical problems" they claim to have solved aren't as cool as they claim.

Take the Navier–Stokes fluid dynamic that OpenAI claimed to have solved. First of all it is a big leap to claim they can also solve ECDLP even if they had actually solved it. But also they didn't actually solve anything. It was just publicity stunt. Their tool used an existing model developed in 2023 to get closer and the Clay Mathematics Institute still categorizes it as "active" not solved.
And yet in the media they are still claiming AI has solved this!!!

As for the usual quantum computers, we still need computation power to solve ECDLP and for the coins to be at risk. AI is not going to change that.

That make sense, just another stunt to inflate their IPO, never really looked into all these math discoveries and what each has discovered, whether it's truly a discovery or just nothing.

It is highly unfortunate that it is people that will be moving funds to a new address when the wallet can do it automatically, but altcoins wallet developers make it not possible just as many of them do not make it possible for bitcoin. But bitcoin wallets that are open source and reputed will automatically send change to change address. What that matter is that you should not reuse the same address to receive coins the second time, just use it only ones.

ETH wallet makers are more focused on in-app swap feature that charges 0.8% a swap on top of the pool fee instead of features like this, won't be surprised at all if they are simply telling us to generate new seed phrase .

If there were an imminent threat regarding the weakness of entropy in Bitcoin and popular wallets, these measures would have been urgent. I see this research as an indirect promotion of what OpenAI can do and thus obtain more funding and loans.

Could be one of the reasons indeed, but I suppose entropy in wallets as long as it's enough, should be safe because no algorithm can just bypass physic due to pure randomness. The problem is always on the public key.

[boyptc]

That make sense, just another stunt to inflate their IPO, never really looked into all these math discoveries and what each has discovered, whether it's truly a discovery or just nothing.

Exactly, they have a couple of months for the delayed IPO.

And but the brilliant of releasing these articles and warning is on the right timing when we have these wallet hacking incidents.

That will amplify what they seem to be concerned with but, not yet proven. Some might buy to that but it's still going to be a long way to go because with the recent hacks we've seen, it's always the flaw in system that the hackers seen and not with AI's work.

[coinrifft]

We already know this thing though, so it's not something new that will trigger the market to panic. The thing is that he is a Ethereum researcher so I don't know what kind of business he needs to mingle with Bitcoin and quantum computing.

And they say that Ethereum is ready and quantum resistant then good for them. As for Bitcoin, sooner or later the devs will have to go and update the code no doubt to be ready in the next couple of years.

[$crypto$]

There is no need to rush to transfer funds to a new address, Vitalik also said so so as not to be too hasty, although this threat does exist in the future, until now he still cannot believe that this is part of the conspiracy or is it pure research they are doing?

Theory is still a long way to read complex mathematics to be able to solve, so for me would not be too worried about this problem because it is only at the beginning.

Or hatus trust others about the marketing they mention? It could lead there.