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North Korea funding programmes through crypto hacks

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North Korea has been coordinating large-scale crypto hacking operations in a bid to fund its missile programmes

Estimates suggest the nation has stolen more than $50 million of digital assets between 2020 and mid-2021, with the attacks serving as an important revenue source for the rogue nation.

The findings were provided to the United Nation’s sanctions committee, with reports the attackers targeted crypto platforms in North America, Europe and Asia.

These recent reports follow allegations the country also accumulated a wealth of over 2 billion dollars for its weapons programmes in 2019 by using similar tactics.

There has been a notable acceleration in the number of missile tests conducted by North Korea in recent months, despite such tests being banned by the UN’s Security Council.

The US say that North Korea – formally known as the Democratic People’s Republic of Korea (DPRK) conducted nine missile tests last month, even though the UN previously imposed strict and wide-ranging sanctions on the country in an attempt to deter such activities.

“DPRK demonstrated increased capabilities for rapid deployment, wide mobility (including at sea), and improved resilience of its missile forces,” 

sanction monitors say.

These sanctions have so-far failed to prevent PYONG-YANG from developing its missile infrastructure.

Both China and Russia refused to sign a statement on Friday condemning the rapid increases of North Korea’s missile launches.

The US announced that later this week its special representative for North Korea would meet with Japanese and South Korean officials to discuss the situation.

Also written by Savannah Pocock

Crypto

Gucci goes big in metaverse with new Vault Art Space

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Forward thinkers who love fashion, this exhibit is for you

Luxury brand Gucci has opened a Vault Art Space as it continues to explore the art world and the metaverse

Gucci inaugurated the gallery in a partnership with NFT marketplace SuperRare

The debut exhibit is titled “The Next 100 Years of Gucci”

Spring Cry by Alanna Vanacore

Keep your eye out for a special selection of NFT artworks, each a collectible fragment of Gucci’s heritage.

The artworks are showcased and auctioned off directly on Vault’s website in three drops between now and the end of July.

All sales will be in Ethereum.

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Crypto

Ethereum to finally undergo shift to new energy model

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Ethereum is about to undergo its long awaited makeover, which will see the company shift from its energy intensive model.

The crypto has been working to shift from its proof-of-work method to a proof-of-stake model, which requires far less power than mining.

Crypto currencies have been criticised for their mining processes to generate new coins. But this new method will be eco-friendly and lead to faster transactions.

The transition has been repeatedly pushed back because of major flaws.

But developers reportedly say the latest test run was very smooth.

The price of Ethereum has lost nearly half its value this year and is trading at just over $1,800 USD.

Investors will continue to keep an eye out on what will come out of this upgrade.

Meanwhile, Bitcoin investors can enjoy a sigh of relief as the cryptocurrency bounces back after months of turbulence.

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Luxury watchmaker accepts bitcoin for limited edition collection

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They say cash is king and some call crypto a waste of time, but one company is proving to customers, that its not an old-timer

Luxury watchmaker Hublot is accepting bitcoin as payment for a limited-edition watch collection.

While the release begins with this limited-edition collection, the addition of bitcoin to the platform will not be going away for the United States eBoutique

Hublot partnered with BitPay to accept bitcoin and will continue to accept bitcoin through this outlet.

In order to secure one of the watches from this collection, customers will be paying just over 21 thousand or slightly more than the current price of 1 bitcoin.

The Swiss-based company joins other high end brands like Gucci and Balenciaga in accepting bitcoin as legitimate payment.

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