Bonkbot is going non custodial, with increased security measures

Bonkbot, a popular trading bot on Telegram, is transitioning to a non-custodial model while enhancing security. Furthermore, it has enhanced its security measures with Pre-TX protection against hackers. 

Bonkbot empowers users with complete control over their assets

One of the most persistent criticisms levelled at Telegram bots has been the security risk associated with custodial operations. Using them has been considered impossible to compromise improved UI/UX and lower security assumptions. The shift will enable robust security without compromising the intuitive user interface (UI) and user experience (UX) that has fueled its rapid growth.

In the non-custodial setup, users have authority over their assets in the Bonkbot platform. Some of the benefits of the non-custodial model are that it ensures that users have control over their assets and private keys. Moreover, if Telegram accounts are hacked into or accessed illegitimately, users are safeguarded by two-factor authentication (also known as 2FA), including Face ID or passkey functionalities.

The trading bot hopes to maintain its reputation for providing a seamless trading experience while ensuring top-notch security measures are in place.

Bonkbot unveils advanced key management system

One of the significant improvements in this upgrade is the introduction of Bonkbot’s key management system (KMS). This is a custom software & hardware development that implements a Hardware Security Module specifically tailored for crypto transactions.

The trading bot will begin deploying the system to its 416,000+ user base in a three-phase rollout. In the upcoming weeks, Bonkbot will enable the KMS for users in different batches. User keys will be migrated from the current system into the new system one after the other, and authorization will be enabled. Users will also be able to export their new seed phrase alongside their current private key—although migration will be enabled in Phase 3.

Renowned for its dependable performance, this bot caters to traders who value fast, trustworthy trade execution—especially crucial activities like trading volatile tokens. The creators of Bonkbots are convinced that merging security with a trading experience is vital for attracting millions of users. 

Bonkbot’s ongoing improvements represent a step toward addressing long-standing security concerns while maintaining its sleek Telegram-based mobile experience. This next-generation Key Management System is just one element of what we’ve been building at Bonkbot, and the team is eager to share more about what’s to come!