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 by TechCrunch. 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.
Previous Issues With Parity
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.
What Is Ambisafe?
Ambisafe is an Ethereum token platform, providing token issuance services and related APIs. 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.
More information about Ambisafe is available at – https://www.ambisafe.co/
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Follow Ambisafe on Twitter at – https://twitter.com/ambisafeco
Company information on Linkedin — https://www.linkedin.com/company-beta/6396069/
Youtube Channel – https://www.youtube.com/channel/UC29vWLwoXWuu71bD43TVhpQ
Contact Name: Karla Vilhelem
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Ambisafe is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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