Ambisafe Wallets Unaffected by Critical Parity Multi-Sig Vulnerability

Place/Date: San Francisco, CA - November 10th, 2017 at 10:21 am UTC · 2 min read
Contact: Karla Vilhelem, Source: Ambisafe

Ambisafe offers reassurance that multisig accounts using their proprietary software are not susceptible to the vulnerability currently affecting the Parity wallet.

ICOs deployed after July 2017 may permanently lose access to their funds if they utilized Parity’s services for storing their coins, according to an article published byTechCrunch. Though there are currently no reports of lost or stolen coins, analysts estimate that at least 600,000 ETH have been made inaccessible due to the bug.

It is the second time this year that multisig wallets from Parity have experienced vulnerabilities in their implementation. In July, a similar bug led to 150,000 ETH being stolen from Parity-based wallets. Ambisafe closely followed the events, and even offered their support during this summer’s attack.

We take this as an opportunity to exercise perspective-taking.” said Oleksii Matiiasevych, Ethereum Engineer at Ambisafe.

From the beginning, Ambisafe’s implementations have been built with resilience in mind. This foresight paid off Wednesday, as they announced that ICOs using their wallets have been unaffected, and all of their coins remain accessible. Ambisafe is currently one of the only provider of multisig wallets that can be safely used to store Ethereum and other ERC20 tokens.

Ambisafe is an Ethereum token platform, providing token issuance services and related API’s. In addition to token creation, they offer a variety of ICO services, including engineering, design, and marketing. White label multi-sig wallets are one of the company’s most in-demand services. Ambisafe wallets are web based, with a mobile-ready api that allows for easy integration with mobile apps. ICOs by Ambisafe are visible on their custom blockchain explorer, and may benefit from instant liquidity.

Branded wallets from Ambisafe focus on user security, offering SecondFactor authentication, secure password recovery, and multisig. All white label wallets feature customizable design and branding, the ability to store multiple Token assets in each user’s wallet, an internal bitcoin exchange, and a variety of merchant tools for integrating payments online.