UTONIC and TonBit Forge Security Alliance for TON and Telegram

The restaking protocol UTONIC, in collaboration with experts from TonBit, has launched the Security Alliance initiative aimed at enhancing security within The Open Network (TON) ecosystem. As part of the partnership, developers have introduced a solution for decentralized storage of private keys based on MPC and AVS technologies.

? Introducing the TON Security Alliance: @UTONIC_uTON x @tonbit_ x @ParticleNtwrk x @PinkPunkBotEN

Together, we’re redefining safety with:
✅ MPC for private keys
✅ AVS for asset snapshots & insurance
✅ Decentralized tools for TON & Telegram apps

? Full details:… pic.twitter.com/5eGSWHWFmQ

— UTONIC (@UTONIC_uTON) November 21, 2024

On November 16, the Telegram bot for trading meme tokens, DEXX.ai, suffered a server hack, resulting in users losing funds. According to UTONIC representatives, the incident highlighted the vulnerability of Telegram applications that rely on centralized asset storage methods.

The UTONIC solution divides users’ private keys into three shards, stored on:

1. The user’s device.
2. The trading platform.
3. The UTONIC AVS network.

Each transaction requires a 2-of-3 multisignature. In the event of a user’s wallet loss, UTONIC AVS can act as a trusted layer for asset withdrawal or private key replacement.

“This approach ensures that private keys are stored in a decentralized manner and cannot be exported by a single party. Additionally, trading bots can contribute funds to UTONIC restaking pools to provide insurance for compensating users for AVS-related losses,” the press release states.

The UTONIC protocol supports the security of the AVS network through:

• Periodic asset snapshots;
• API that allows projects in the TON/Telegram ecosystem to selectively scan and verify modules critical to their operations.

The UTONIC AVS service can be utilized in the creation of gaming and financial applications.

“With a random number generator and decentralized storage of in-game points, AVS minimizes centralization-related risks. In finance, the network provides decentralized storage of MPC wallets, orders, and price oracle operations,” project representatives commented.

Within the Security Alliance, TonBit and UTONIC experts conduct audits of TON-based projects and implement AVS to ensure their secure operation. The organization also includes the trading bot PinkPunk and multichain solutions developer Particle Network.

“We are pleased to see all ecosystem participants, including trading bots, adopting custodial and non-custodial MPC solutions. Centralized storage carries significant risks, so it is crucial to employ the best available technologies to create secure services as soon as possible,” commented Particle Network CEO Pengyu Wang.

Previously, the UTONIC protocol launched uTON, a restaking program on the TON blockchain.