Dragonfly partner rejects ‘bunker mode’ doomerism, calls for proactive blockchain measures
Dragonfly managing partner Haseeb Qureshi criticized Ethereum researcher Justin Drake’s warning that AI could break cryptographic signatures soon, arguing that moving funds to fresh addresses offers only temporary protection and could leave those assets worthless if attacks trigger broader theft and sell-offs. Qureshi proposed a “Cryptographic Recovery Mode,” using hash-based backup signatures that validators could activate if current signatures fail. Glassnode estimates 6.26 million BTC, over 31% of supply, are exposed: about 4.33 million due to address reuse and 1.94 million due to address formats. Nearly 1.8 million exposed BTC are held on exchanges. Drake urged gradual migration to wallets with unexposed public keys, while Vitalik Buterin said the threat deserves attention but advised against rushing.
