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Hackers hit South Korean cryptocurrency exchange for $31.5M – CNET

It’s the country’s second cryptoexchange to fall victim to cybercriminals in less than 10 days.
Source: CNET

Porsche just took a 10% stake in electric car maker Rimac Automobili

Porsche AG is taking a 10% stake in Rimac Automobili, the Croatian hypercar and electric vehicle components company behind the world’s fastest electric car. 

This isn’t just a big-storied-automaker-takes-an-interest-in-a-startup kind of story. Rimac has street cred and not just because of its latest electric hypercar, the C Two, which debuted at the Geneva Motor Show in March 2018. 

The two-seater C Two is certainly a standout. The electric hypercar has a 1,914-horsepower engine that enables the vehicle to reaches a top speed of 256 miles per hour and accelerate from 0 to 60 mph in 1.85 seconds. That’s faster than Tesla’s next-generation Roadster prototype that CEO Elon Musk unveiled in November. The Rimac’s battery is no slouch either and gets 405 miles to a single charge, nearly double other EVs on the market. 

But Rimac Automobili is more than a startup that plans to produce 150 or so $2.1 million C Two hypercars. The company, which was founded by Mate Rimac in 2009, also engineers and manufactures high-performance electric vehicle powertrain systems and battery systems. The company has already worked with Renault, Jaguar, and Aston Martin. The company’s tech was even used in the E-Type Zero Jaguar driven by Prince Harry and the Duchess of Sussex at their wedding last month.

Now Porsche wants a piece of Rimac’s electric vehicle magic. Porsche says its seeking a development partnership with the company.

Porsche has its own electric ambitions. The German automaker’s first electric sports car—the Taycan, once called Mission E, is expected to go on sale at the end of 2019. The electric vehicle is seen (in some circles) as a threat to Tesla, which has dominated the luxury electric vehicle market. Porsche is clearly looking for an edge.

“By developing the purely electric two-seaters super sports cars, like the ‘Concept One’ or ‘C Two’, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility,” said Lutz Meschke, deputy chairman of Porsche’s executive board and member of its executive finance and IT board. 

Rimac, which employs about 400 people, is focused on high-voltage battery technology and electric powertrains. It also works on the digital interfaces in the car and even has a separate electric bikes subsidiary called Greyp Bikes.


Source: TechCrunch

Porsche takes 10 percent stake in electric car maker Rimac Automobili – Roadshow

Porsche wants a development partnership with the manufacturer of electric supercars.
Source: CNET

AI could turn your blurry phone videos into slow-mo masterpieces – CNET

Nvidia has developed technology that will add additional frames into video that’s already been recorded.
Source: CNET

Korean crypto exchange Bithumb says it lost over $30M following a hack

Just weeks after Korean crypto exchange Coinrail lost $40 million through an alleged hack, another in the crypto-mad country — Bithumb — has claimed hackers made off with over $30 million in cryptocurrency.

Coinrail may be one of Korea’s smaller exchanges, but Bithumb is far larger. The exchange is one of the world’s top ten ranked based on trading of Ethereum and Bitcoin Cash, and top for newly-launched EOS, according to data from Coinmarketcap.com.

In a now-deleted tweet, Bithumb said today that 35 billion won of tokens — around $31 million — were snatched. It didn’t provide details of the attack, but it did say it will cover any losses for its users. The company has temporarily frozen deposits and trading while it is in the process of “changing our wallet system” following the incident.

Days prior to the hack, Bithumb said on Twitter that it was “transferring all of asset to the cold wallet to build up the security system and upgrade” its database. It isn’t clear whether that move was triggered by the attack — in which case it happened days ago — or whether it might have been a factor that enabled it.

A tweet sent days before Bithumb said it had been hacked

There’s often uncertainty around alleged hacks, with some in the crypto community claiming an inside job for most incidents. In this case, reports from earlier this month that Bithumb was hit by a 30 billion won tax bill from the Korean government will certainly raise suspicions. Without an independent audit or third-party report into the incident, however, it is hard to know exactly what happened.

That said, one strong takeaway, once again, is that people who buy crypto should store their tokens in their own private wallet (ideally with a hardware key for access) not on an exchange where they could be pinched by an attacker. In this case, Bithumb is big enough to cover the losses, but it isn’t always that way and securely holding tokens avoids potential for trouble.


Source: TechCrunch

Oppo's new flagship looks even cooler than the OnePlus 6 – CNET

No notch, all screen and supercharged specs: Oppo is finally stepping out of OnePlus’ shadow.
Source: CNET

2018 iPhone X with USB-C could be a perfect match, but it's unlikely – CNET

Commentary: 30-pin. Lightning. USB-C? Get your dongles ready.
Source: CNET

Instagram’s “IGTV” video hub for creators launches tomorrow

TechCrunch has learned that the Instagram longer-form video hub that’s launching tomorrow is called IGTV and it will be part of the Explore tab, according to multiple sources. Instagram has spent the week meeting with online content creators to encourage them to prepare videos closer to 10-minute YouTube vlogs than the 1-minute maximum videos the app allows today.

Instagram is focusing its efforts around web celebrities that made their name on mobile rather than more traditional, old-school publishers and TV studios that might come off too polished and processed. The idea is to let these creators, who have a knack for this style of content and who already have sizeable Instagram audiences, set the norms for what IGTV is about.

Instagram declined to comment on the name IGTV and the video hub’s home in app’s Explore tab. We’ll get more information at the feature’s launch event in San Francisco tomorrow at 9am Pacific.

Following the WSJ’s initial report that Instagram was working on allowing longer videos, TechCrunch learned much more from sources about the company’s plan to build an aggregated destination for watching this content akin to Snapchat Discover. The videos will be full-screen, vertically oriented, and can have a resolution up to 4K. Users will be greeted with collection of Popular recent videos, and the option to Continue Watching clips they didn’t finish.

The videos aren’t meant to compete with Netflix Originals or HBO-quality content. Instead, they’ll be the kind of things you might see on YouTube rather than the short, off-the-cuff social media clips Instagram has hosted to date. Videos will offer a link-out option so creators can drive traffic to their other social presences, websites, or ecommerce stores. Instagram is planning to offer direct monetization, potentially including advertising revenue shares, but hasn’t finalized how that will work.

We reported that the tentative launch date for the feature was June 20th. A week later, Instagram sent out press invites for an event on June 20th our sources confirm is for IGTV.

Based on its historic growth trajectory that has seen Instagram adding 100 million users every four months, and its announcement of 800 million in September 2017, it’s quite possible that Instagram will announce it’s hit 1 billion monthly users tomorrow. That could legitimize IGTV as a place creators want to be for exposure, not just monetization.

IGTV could create a new behavior pattern for users who are bored of their friends’ content, or looking for something to watch in between Direct messages. If successful, Instagram might even consider breaking out IGTV into its own mobile app, or building it an app for smart TVs

The launch is important for Facebook because it lacks a popular video destination since its Facebook Watch hub was somewhat of a flop. Facebook today said it would expand Watch to more creators, while also offering new interactive video tools to let them make their own HQ trivia-style game shows. Facebook also launched its Brand Collabs Manager that helps businesses find creators to sponsor. That could help IGTV stars earn money through product placement or sponsored content.

Until now, video consumption in the Facebook family of apps has been largely serendipitous, with users stumbling across clips in their News Feed. IGTV will let it more directly compete with YouTube, where people purposefully come to watch specific videos from their favorite creators. But YouTube was still built in the web era with a focus on horizontal video that’s awkward to watch on iPhones or Androids.

With traditional television viewership slipping, Facebook’s size and advertiser connections could let it muscle into the lucrative space. But rather than try to port old-school TV shows to phones, IGTV could let creators invent a new vision for television on mobile.


Source: TechCrunch

China-based espionage campaign targets satellite, defense companies – CNET

“Thirp” group targeted operations that monitor and control satellites, Symantec reports.
Source: CNET

How to share your custom Alexa skills with friends – CNET

Not only can you make your own Alexa skills without coding, you can now share them with your friends and family too.
Source: CNET

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