diff --git a/app/scripts/metamask-controller.js b/app/scripts/metamask-controller.js
index 968589f6e..a4c77e468 100644
--- a/app/scripts/metamask-controller.js
+++ b/app/scripts/metamask-controller.js
@@ -31,6 +31,7 @@ const ConfigManager = require('./lib/config-manager')
 const nodeify = require('./lib/nodeify')
 const accountImporter = require('./account-import-strategies')
 const getBuyEthUrl = require('./lib/buy-eth-url')
+const Mutex = require('await-semaphore').Mutex
 const version = require('../manifest.json').version
 
 module.exports = class MetamaskController extends EventEmitter {
@@ -38,6 +39,7 @@ module.exports = class MetamaskController extends EventEmitter {
   constructor (opts) {
     super()
 
+
     this.sendUpdate = debounce(this.privateSendUpdate.bind(this), 200)
 
     this.opts = opts
@@ -49,6 +51,9 @@ module.exports = class MetamaskController extends EventEmitter {
     // observable state store
     this.store = new ObservableStore(initState)
 
+    // lock to ensure only one vault created at once
+    this.createVaultMutex = new Mutex()
+
     // network store
     this.networkController = new NetworkController(initState.NetworkController)
 
@@ -467,15 +472,34 @@ module.exports = class MetamaskController extends EventEmitter {
   // Vault Management
   //
 
-  async createNewVaultAndKeychain (password, cb) {
-    const vault = await this.keyringController.createNewVaultAndKeychain(password)
-    this.selectFirstIdentity(vault)
+  async createNewVaultAndKeychain (password) {
+    const release = await this.createVaultMutex.acquire()
+    let vault
+
+    try {
+      const accounts = await this.keyringController.getAccounts()
+
+      if (accounts.length > 0) {
+        vault = await this.keyringController.fullUpdate()
+
+      } else {
+        let vault = await this.keyringController.createNewVaultAndKeychain(password)
+        this.selectFirstIdentity(vault)
+      }
+      release()
+    } catch (err) {
+      release()
+      throw err
+    }
+
     return vault
   }
 
-  async createNewVaultAndRestore (password, seed, cb) {
+  async createNewVaultAndRestore (password, seed) {
+    const release = await this.createVaultMutex.acquire()
     const vault = await this.keyringController.createNewVaultAndRestore(password, seed)
     this.selectFirstIdentity(vault)
+    release()
     return vault
   }
 
diff --git a/ui/app/first-time/init-menu.js b/ui/app/first-time/init-menu.js
index cc7c51bd3..b4587f1ee 100644
--- a/ui/app/first-time/init-menu.js
+++ b/ui/app/first-time/init-menu.js
@@ -8,6 +8,8 @@ const actions = require('../actions')
 const Tooltip = require('../components/tooltip')
 const getCaretCoordinates = require('textarea-caret')
 
+let isSubmitting = false
+
 module.exports = connect(mapStateToProps)(InitializeMenuScreen)
 
 inherits(InitializeMenuScreen, Component)
@@ -164,7 +166,10 @@ InitializeMenuScreen.prototype.createNewVaultAndKeychain = function () {
     return
   }
 
-  this.props.dispatch(actions.createNewVaultAndKeychain(password))
+  if (!isSubmitting) {
+    isSubmitting = true
+    this.props.dispatch(actions.createNewVaultAndKeychain(password))
+  }
 }
 
 InitializeMenuScreen.prototype.inputChanged = function (event) {