Is this an open source project?
even if it's an open source project, OP knows the private key and can steal the fund
offering vanity address creation without partial/split key method is never recommended
if he wants to offer such services, he needs to do it like
ThePiachu's or
LoyceV's vanitygen service
Theoretically it's correct - but we aren't servicing those really paranoid people. They will just make their own addresses.