TON Foundation Unveils Bitcoin Bridge, Assures Security to Prevent Fund Losses

Jack Booth, the Open Network (TON) Foundation's marketing director, explained how the organization is securing TON's Bitcoin bridge, which will allow users to transfer

The Open Network (TON) Foundation recently announced the launch of its Bitcoin ( BTC ) bridge, enabling users to transfer their BTC into TON. This integration will provide users with the ability to utilize digital assets for decentralized applications (DApps), lending platforms and other purposes within the TON ecosystem.

One of the protocol’s long-term visions is to become a “blockchain of blockchains,” essentially integrating the top Web3 services into a single network.

As part of this effort, the TON Foundation is taking steps to ensure the security of funds being transferred into the TON network. In the past, blockchain bridge security incidents have led to massive fund losses due to vulnerabilities in the architecture.

In 2022, one of the most significant hacking incidents involved the Ronin Bridge, which ultimately led to over $600 million in funds being lost. However, Booth noted that TON employs several security measures to ensure that Bitcoin transfers into their network are secure.

“All key operations, including transaction verification, confirmation and token issuance, are carried out by smart contracts automatically and transparently,” explained Booth.

“This means that all activity is recorded on TON Blockchain as soon as it is confirmed.”

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Furthermore, Booth highlighted the network’s “high resistance” to private key compromises in the context of the Bitcoin bridge.

“The protocol ensures that private keys are not created or held by a single party,” said the executive.

Instead, TON Validators will generate a joint public key using the Distributed Key Generation (DKG) process and sign transactions with aggregated signatures using the FROST protocol.

“This creates a more secure, decentralized bridge that is highly resistant to compromised keys or insider threats, ensuring no single point of failure,” Booth noted.

Private key compromises have indeed led to millions of dollars in losses over the past year. According to data from CertiK, in the first half of 2024, this type of attack vector led to over $400 million in losses across 42 security incidents.

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