How does BullX or Photon execulate transaction without storing users' private key?

Question

i was wondering how can bullx or photon execute transaction without storing my private key? Don't they need the private key to sign the transaction? Is there a way where i can execute a transaction without signing? In the discord they said:

Q. How to get your private key? Private Keys are only available for the first 48 hours of wallet creation. We do not store any private keys. To get a private key you would have to create a new wallet, this will give you a new PK, and make that wallet your primary. All this can be done in wallet management.

Answer 1

They encrypt your private key, usually using AES126 or AES256 in a database. Your encrypted private key can sign messages only when your parent account excutes a transaction on your behalf.

Answer 2

From bullx's X account:

BullX operates on policy-based enclaves for all wallet-related actions. Wallets are stored in AWS CloudHSM modules, which are not accessible outside the enclaves.

All actions, including transaction signing and wallet generation, happen here. These policies are immutable and bound to each generated wallet. These include rules like:

• The PK can only be downloaded for 24 hours.
• Transfers are only possible between wallets within the user's account.
• Simulated trade transactions must end with expected balance changes.
• And more...

Neither the BullX team nor any associated entity, including the cloud provider, can perform actions or access the wallets. Only the code-signed enclaves can interact with the HSM.

The primary login is facilitated via Telegram APIs. Since BullX is a TG-based app, treat your TG account as equivalent to your wallet seed phrase.

Ref: https://x.com/bullx_io/status/1811838786780770771