13 July 2025

Finally, a Use Case for AI

The use case is stealing cryptocurrency from exchanges.

Seeing as how the only use case for cryptocurrency is crime, money laundering, blackmail, and the occasional murder for hire.

I am amused:

Using AI models to generate exploits for cryptocurrency contract flaws appears to be a promising business model, though not necessarily a legal one.

Researchers with University College London (UCL) and the University of Sydney (USYD) in Australia have devised an AI agent that can autonomously discover and exploit vulnerabilities in so-called smart contracts.

Smart contracts, which have never lived up to their name, are self-executing programs on various blockchains that carry out decentralized finance (DeFi) transactions when certain conditions are met.

Like most programs of sufficient complexity, smart contracts have bugs, and exploiting those bugs to steal funds can be remunerative. Last year, the cryptocurrency industry lost almost $1.5 billion to hacking attacks, according to Web3 security platform vendor Immunefi [PDF]. Since 2017, crims have pilfered around $11.74 billion from DeFi platforms.

And it looks like AI agents can make taking those funds even easier.

Gee, you mean that software has bugs?  Hoocoodanode?

To quote Nathaniel Borenstein, the inventor of MIME:

The most likely way for the world to be destroyed, most experts agree, is by accident.

That's where we come in. We're computer professionals. We cause accidents. 

 

0 comments :

Post a Comment