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New Tonkeeper App Enhancing Crypto Asset Security, Preventing Hacks
Aug. 08, 2024. 2 mins. read.
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Tonkeeper's new Signer app enhances security for Ton blockchain users, protecting crypto assets from hacks, scams, and mistakes by securely managing private keys, addressing key management risks.
Tonkeeper, a non-custodial wallet provider for the Ton blockchain, is introducing the Signer application, a new security tool designed to protect users’ crypto assets from hacks, scams, and mistaken transactions.
The launch of the new Ton app aims to address significant risks associated with private key management, a concern heightened by recent security breaches. By securely storing and operating private keys through the Signer app, Tonkeeper intends to mitigate the risk of exploits seen in incidents like the $10 million Li.Fi drain.
Daniel Cawrey, chief strategy officer at Tonkeeper, explained in a written Q&A with Cointelegraph that app users will benefit from “an extra layer of security to help protect against theft, scams or mistaken transactions.”
According to a press release shared with Cointelegraph, the Signer app will allow Tonkeeper users to manage their private keys more securely. Cawrey noted, “since private keys are encrypted in Signer and held outside of the wallet, funds are significantly more difficult to steal or for mistaken transactions to accidentally be made.”
“We don’t want our new entrants or power users – anyone really – to fall victim to scams or private key accidents that a lot of us early adopters did,” Cawrey emphasized.
The new Tonkeeper app provides users with two operational modes. The convenience mode allows users to pair Signer with the Tonkeeper wallet app on a single device, facilitating easier access for transaction signing. Alternatively, the maximum security mode enables users to use a separate, offline device “air-gapped” without internet access to sign QR-code transactions.
Regarding newcomers’ safety in the crypto space, Cawrey advised that new users should “ensure they store their seed phrases in a secure location where they won’t be lost or forgotten.” He added, “Even the most experienced and sophisticated of users in this space have made the mistake of haphazardly storing or losing private keys or signing bad transactions.”
In addition to the Signer app, on July 25, the Ton Core team launched its W5 smart wallet standard in collaboration with Tonkeeper. This upgrade facilitates gasless transactions on The Open Network (TON) blockchain, allowing users to use Tether (USDT) for gas fees for USDT transfers and Notcoin for gas fees when transferring Notcoin (NOT).
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