Bots require:

1. _Secure infrastructure_: Robust and reliable servers, networks, and databases to prevent unauthorized access.

2. _Data encryption_: Protection of sensitive data, such as trading strategies and account information.

3. _Access controls_: Multi-layered authentication and authorization to ensure only authorized personnel can access and modify bot settings.

4. _Regular updates and patches_: Timely implementation of security updates and patches to prevent exploitation of vulnerabilities.

5. _Intrusion detection and response_: Monitoring and response systems to detect and respond to potential security breaches.

6. _Secure communication protocols_: Encrypted communication channels for data transfer and bot communication.

7. _Compliance with regulations_: Adherence to relevant security and data privacy regulations, such as GDPR and CCPA.

8. _Continuous monitoring and testing_: Regular security audits and penetration testing to identify and address potential vulnerabilities.

To mitigate security risks, developers and traders can:

1. _Implement robust security measures_: Use industry-standard security protocols and best practices.

2. _Conduct regular security audits_: Identify and address vulnerabilities before they can be exploited.

3. _Use reputable cloud services_: Leverage secure cloud infrastructure and services.

4. _Keep software up-to-date_: Ensure all software and dependencies are current and patched.

5. _Use strong passwords and authentication_: Protect access to bot settings and data.

6. _Use encryption and secure communication protocols_: Protect data in transit and at rest.

7. _Develop incident response plans_: Prepare for and respond to potential security breaches.

8. _Stay informed and vigilant_: Continuously monitor for security threats and updates.