BonkBot, one of the most widely used crypto trading bots on Telegram, is making a significant shift toward enhanced security by adopting a non-custodial model. In response to increasing concerns about custodial vulnerabilities, this change aims to give users total control over their assets, ensuring that only they can approve transactions. BonkBot’s new system is designed to protect users from hackers, security breaches, and potential unauthorized access.
The Move To Non-Custodial Security
In the world of cryptocurrency, custodial services are often criticized for leaving users’ private keys vulnerable to third parties, including the service providers themselves. BonkBot’s developers recognized this risk and have announced a groundbreaking transition toward a non-custodial model. Under this new system, users will maintain complete control over their assets and private keys, removing the possibility of BonkBot or any third party freezing or accessing user funds.
In a recent post on X (formerly Twitter), BonkBot’s developers reassured users that they are now entirely in charge of their transactions. With additional security features like two-factor authentication (2FA) for SOL withdrawals, private key exports, and optional token whitelisting, BonkBot’s new system aims to bolster user safety even further. Planned updates also include advanced security measures like Face ID and passkey authentication, promising an even more secure experience in the future.
A Step Forward in User Control
One of the key innovations in BonkBot’s non-custodial model is the introduction of seed phrase wallets. With this update, users can access multiple wallets using a single seed phrase, simplifying the management of their assets. Previously, users had to juggle multiple passkeys for different wallets, creating unnecessary complexity and security risks. Now, with just one phrase, users can navigate multiple accounts securely and efficiently.
This transition to a non-custodial model addresses one of the most common criticisms of Telegram trading bots: the custodial nature of wallet management, where sensitive information is typically stored on the provider’s servers. By shifting control to users, BonkBot minimizes the risk of security breaches that could expose private keys and other account information.
BonkBot’s new non-custodial model isn’t just about handing over control—it’s about making sure that control is protected at all times. If a user’s Telegram account is compromised, BonkBot’s suite of security measures ensures that their assets remain safe. The bot includes 2FA on SOL withdrawals, private key exports, and the option to whitelist specific tokens, adding multiple layers of protection.
Further enhancing security is BonkBot’s use of Pre-TX (pre-transaction) protection. This mechanism ensures that all transactions are validated before being executed, reducing the risk of hacking or tampering with user accounts. By utilizing WebAssembly (WASM) modules, BonkBot can verify the integrity of every transaction, ensuring it reflects the user’s true intent.
Robust Key Management
Another major advancement is BonkBot’s custom key management system (KMS), designed to offer unparalleled user control and security. This system enables users to keep their private keys safe, with BonkBot’s intent-based wallet feature ensuring that all transactions are secure, even if the underlying smart contracts are compromised.
Despite these improvements, BonkBot’s developers warn users to keep their seed phrases secure, as they remain responsible for safeguarding them. If a seed phrase is lost or exposed, BonkBot cannot recover it, emphasizing the importance of personal responsibility in crypto security.
Also Read: Bonk [BONK] Nears Breakout – Symmetrical Triangle Pattern Signals Move Amid 6.31% Drop
While BonkBot’s security overhaul is a major step forward for users, the changes have not yet had a significant impact on the BONK token’s price. Over the past 24 hours, BONK has seen a slight decline of 2.16%, trading at $0.0000203846140. Nevertheless, BonkBot’s transition to a non-custodial model marks a pivotal moment in the platform’s development, aligning with growing demand for user control and security in the crypto world.
As the platform continues to implement more advanced security measures, BonkBot’s commitment to protecting users’ assets remains clear. By putting users in control, BonkBot is setting a new standard for security in the world of Telegram trading bots.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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