[Dragonfly Partner Opposes 'Doomsday Panic' in the Crypto Industry: Asset Migration Is Not a Fundamental Solution, Proactive Recovery Mechanisms Should Be Established] BlockBeats News, October 9 — Dragonfly Managing Partner Haseeb Qureshi criticized Ethereum researcher Justin Drake's proposed 'Bunker Mode' as 'cryptographic doomsday theory,' arguing that if AI were to break cryptographic signature mechanisms, merely migrating assets to new addresses would not fundamentally solve the problem. If assets in other addresses are stolen and sold on a large scale, even if the migrated assets remain temporarily safe, their value could still suffer significant impact. Qureshi proposed that blockchain networks establish a 'cryptographic recovery mode,' allowing users to pre-bind hash-based backup signature schemes to addresses. In the event that existing cryptographic signatures are compromised, validators could enforce the activation of an asset recovery mechanism. According to Glassnode data, approximately 6.26 million BTC are currently at risk due to public key exposure, accounting for over 31% of Bitcoin's total supply. Of these, around 4.33 million BTC are at risk due to address reuse, which can be mitigated by migrating to new addresses. Another 1.94 million BTC face risks due to address format vulnerabilities. Exchanges hold approximately 1.8 million BTC at risk, representing about 57% of exchange BTC balances. Previously, Justin Drake warned that AI could accelerate the cracking of the elliptic curve digital signature algorithm (ECDSA) used by crypto wallets, with the worst-case scenario potentially emerging within months rather than years. Ethereum co-founder Vitalik Buterin also emphasized the need to take the risks posed by AI-accelerated mathematical research seriously but advised against users hastily transferring assets. [Original Link]