New Tonkeeper app enhances crypto asset security, preventing hacks

Tonkeeper, a non-custodial wallet provider for the Ton blockchain, has introduced the Signer application, a new security tool designed to protect users’ crypto assets.

The launch of the new Ton app aims to address significant risks associated with private key management, which has been extensively discussed in light of recent hacks.

By securely storing and operating private keys through the Signer app, Tonkeeper aims to help mitigate the risk of exploits seen in hacks like the $10 million Li.Fi drain.

In a written Q&A with Cointelegraph, Daniel Cawrey, chief strategy officer at Tonkeeper, explained that app users will have “an extra layer of security to help protect against theft, scams or mistaken transactions.”

Security for crypto assets

A press release shared with Cointelegraph states that the Signer app will allow Tonkeeper users to manage their private keys more securely.

Cawrey explained that “since private keys are encrypted in Signer and held outside of the wallet,” funds are significantly more difficult to steal or for mistake 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.”

Two methods, one solution

According to the press release, the new Tonkeeper app will allow users to choose from either of two modes in-app to best suit their needs.

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.”

“Even the most experienced and sophisticated of users in this space have made this mistake of haphazardly storing/losing private keys or signing bad transactions.”

New Ton smart wallet standard

On July 25, the Ton Core team launched its W5 smart wallet standard in collaboration with Tonkeeper to facilitate gasless transactions on The Open Network (TON) blockchain.

The upgrade enables users to use Tether (USDT) for gas fees for USDT transfers and Notcoin for gas fees when transferring Notcoin (NOT).