Parity MultiSig Wallet has critical Bug — Money Rebel ETH wallet also affected — Project continues as planned!

Our Ethereum multisignature wallet is among the ones affected by the Parity bug as disclosed today by Parity Technologies. We are confident that the Ethereum Foundation will resolve the issue as there are millions at stake.

The Money Rebel wallet currently holds 2,567 ETH valued at $751,561. According to our knowledge there are 513,695.801 ETH locked in multisignature wallets.

There were no reports of funds being stolen; they are just frozen in their respective multisignature contracts. This affects only Parity MultiSig wallets. If Parity does not find a solution for this, this might temporarily significantly decrease the circulating ETH supply.

If a programmatic solution cannot be used to release the funds, a hard fork will be required to modify the multi signature wallet smart contract.

Let us emphasize that the Money Rebel Bitcoin wallet is safe from this bug. Currently there is no change in our plans. We believe the Parity Multisig Wallet issue will be resolved in a few weeks’ time.

Additional details: Parity Technology

Parity Technology are working on the details and they confirm funds currently can not be moved.