I have participated in many rounds these days, from veteran miners, to VCs, to listings, to traders, media, and so on. There are many feelings and emotions that arise. A crucial reason is that the security countermeasure strategy has changed. After the emergence of AI, the cost of security testing has been significantly reduced, and hackers can use AI to quickly conduct comprehensive fuzz testing on products. From the vulnerabilities in ZEC to the vulnerabilities in Haedal today. At present, there are many abandoned contracts or contracts without maintenance on ETH, which store a large amount of encrypted assets. Who dares to say that there are no vulnerabilities in these contracts? So who does all the ETH inside belong to? Who dares to place large positions in ETH? The foundation of security is based on defense costs being less than attack costs. When attack costs significantly decrease, the foundation of security is no longer established. There is another incident that is quite explosive in the security circle. AI has discovered many Linux kernel vulnerabilities, as well as Nginx vulnerabilities, which are exploited in a very tricky way and beyond human imagination. Let's take a look at the number of CVE submissions. Compared to the number of vulnerability submissions five years ago, the number has skyrocketed by 263% in 2025. NIST will not handle it directly because there are too many vulnerabilities. So when we look at the encryption circle, with so many protocols, so many chains, and so many platforms waiting for hackers to penetrate, it's just a matter of time. When the computing power and model intelligence reach a certain level, AI will try every possibility. The true value of encryption is built on the foundation of security. When the way of security confrontation changes, it is undoubtedly an earthquake for the encryption circle. Previously, hackers had to break a protocol through various fuzz tests, APT penetration, white box audits, and so on. Now there's no need to use it directly. Leave all contract addresses to AI and rely on AI computing power to test them one by one. Some old contracts, abandoned contracts, and contracts that no one maintains. As long as there are assets inside, they are the priority targets for hackers to attack. This is still at the level of code vulnerability exploitation, as well as social engineering attacks, with significantly reduced costs, and even the ability to achieve a complete industry chain, penetrating every employee of the project team in batches. We cannot say that encryption is dead, but the periodic pattern of encryption has ended.