$XRP $WIF $SHIB The UTONIC restaking protocol together with TonBit experts launched the Security Alliance initiative aimed at improving security in the The Open Network (TON) ecosystem. As part of the partnership, the developers presented a solution for decentralized storage of private keys based on MPC and AVS technologies. On November 16, the DEXX.ai Telegram bot for trading meme tokens was hacked on the server, as a result of which users of the service lost funds. According to UTONIC representatives, the incident showed the vulnerability of Telegram applications that rely on centralized methods of storing assets.

The UTONIC solution divides users' private keys into three shards. They are stored on:

The user's device.

The trading platform.

The UTONIC AVS network.

Each transaction requires a 2-of-3 multi-signature. In case of loss of the user's wallet, AVS UTONIC can act as a trusted layer for the withdrawal of assets or replacement of the private key.