Luxury jeweler Graff Diamonds pays $7.5 million worth of Bitcoin in ransom to Russian hackers

 Luxury jeweler Graff Diamonds pays $7.5 million worth of Bitcoin in ransom to Russian hackers

A damaging ransom attack has forced luxury British jeweler Graff Diamonds to pay $7.5 million worth of Bitcoin to a group of Russian hackers, a London lawsuit revealed.

In case of failure to pay, a group of hackers threatened to leak the private data of jeweler’s high-profile clients. Graff is known for its famous clientele, including Oprah Winfrey, the Sultan of Brunei, and royalty from the Middle East.

Graff is suing its insurer, Travelers, for refusing to cover the ransom, which is how more information about the hack came out. Graff is maintaining that the payout should have been covered by insurance.

The hack happened in September 2021, with ransomware group Conti taking responsibility and leaking data. The attack was somewhat unusual, with Conti issuing an apology to Graff’s clients from Saudi Arabia, UAE, and Qatar while also threatening to leak more data.

“We found that our sample data was not properly reviewed before being uploaded to the blog,” the hackers wrote back in October. “Conti guarantees that any information pertaining to members of Saudi Arabia, UAE, and Qatar families will be deleted without any exposure and review. Our Team apologizes to His Royal Highness Prince Mohammed bin Salman and any other members of the Royal Families whose names were mentioned in the publication for any inconvenience.”

Among the leaked data was private information on celebrities like David Beckham, Oprah Winfrey, and Donald Trump, The Daily Mail reported last year.

In November, Graff ended up paying half of Conti’s initial demand, which was $15 million worth of Bitcoin. The cryptocurrency was transferred to a Bitcoin wallet at a time when the digital currency was around its all-time high of $69,000.

“The criminals threatened targeted publication of our customers private purchases,” a Graff spokesperson said. “We were determined to take all possible steps to protect their interests and so negotiated a payment which successfully neutralized that threat.”

According to the spokesperson, Graff is “extremely frustrated and disappointed by Travelers’ attempt to avoid settlement of this insured risk. They have left us with no option but to bring these recovery proceedings at the High Court.”

Graff was founded in 1960 by billionaire Laurence Graff, who is now worth $5.8 billion, according to the Bloomberg Billionaire Index.

Source: DCLA

Graff Unveils 50-Carat D Flawless Diamond At Palm Beach Boutique

 Graff Unveils 50-Carat D Flawless Diamond At Palm Beach Boutique

       Graffs 50 Carat D Flawless Oval Cut Diamond

A 50.08 carat D Flawless oval diamond is the centerpiece of an exhibition of gems and high jewelry by Graff, which opens today at Graff’s Palm Beach boutique.

Graff, in a statement, says it is the largest D Flawless diamond in 20 years to be unveiled by the high jewelry brand. It is available for view by appointment. It serves as the major attraction of a high jewelry exhibition titled, “Graffabulous,” that includes a number of high jewelry creations by Graff showcasing high quality diamonds, emeralds, rubies and sapphires.

The unnamed 50.08 carat D Flawless diamond hails from a mine in Lesotho, a landlocked kingdom encircled by South Africa. The gem measures more than 30 x 20mm with exceptional brilliance and fire, according to Graff. Graded by the GIA as having excellent polish and symmetry, its remarkable size, combined with perfect color and clarity, it is among the line of important diamonds that Graff has acquired over the decades.

Elevating the occasion even further, the new owner of this historic diamond will be given the opportunity to name it before the stone is added to Graff’s timeline of famous gems.

The oval cut is an exquisite shape that combines the renowned radiance of a round brilliant cut diamond with a curved, elongated silhouette. The proportions of an oval cut are key to its beauty, with the 50.08 carat D Flawless oval diamond displaying the most sought after combination of an excellent cut, with a perfectly symmetrical silhouette and a length-to-width balance, the company says.

The Graffabulous exhibition consists of pieces from Graff’s 2022 high jewelry collection and advertising campaign of the same name. It comprises 80 pieces of one of a kind high jewelry with more than 3,600 carats of diamonds, emeralds, rubies and sapphires. Necklaces and rings feature prominently in the collection.

Source: DCLA

Graff Unveils New High-Jewelry Collection: Tribal

 

Graff is known for its exquisite diamonds. The London-based jewelry house has acquired many notable diamond acquisitions, some that set world records. As a vertically integrated jeweler, the house cuts, polishes, and sets these incredible diamonds in-house, allowing it to control every facet of these stunning diamonds. 

Graff is known for its incredible diamonds GRAFF

To coincide with the spring equinox, Graff unveiled Tribal, its newest high-jewelry collection. The collection focuses on white and yellow diamonds, with one exceptional emerald suite, in three sculptural motifs. The collection is inspired by the stories that our ancestors would tell themselves to explain the world around them and the heavens above, so these motifs focus on the sky, sun, and stars — a language understood around the world. 

Francois Graff, CEO of Graff, tells Forbes, “Tribal is a fabulous collection, inspired by the magical folktale of the girl who created the stars. For me, the iconic, timeless symbols that unite the collection evoke a deep feeling of being connected to the world around us on a universal level. Tribal raises the bar in high jewelry and pushes the boundaries of creativity, craftsmanship, and exceptional stones for which we are known.”

The Graff Gateway pieces feature abstract ovals GRAFF

Graff Graff Gateway features striking, architectural designs. These pieces feature abstract ovals with pear-cut or round diamonds within. They evoke swirling galaxies with a brilliant diamond star at the heart. For a more delicate, almost lace-inspired look, the Graff Gateway choker and cuff bracelets alternate rows of round diamonds and diamonds with a more subtle oval motif. 

The Sun Worship necklace features 374 white and yellow diamonds with a 10.56-carat pear-shaped Fancy … [+] GRAFF

The powerful New Dawn collection is inspired by the sun’s rays as it rises above the horizon. These pieces feature sunburst motifs set in white or yellow diamonds. Some diamond rays spiral from a significant central stone, while other pieces focus on geometric compositions. The Sun Worship necklace features 374 white and yellow diamonds with a 10.56-carat pear-shaped Fancy Vivid Yellow diamond in the center. 

Sara Sampaio wears the Night Moon pieces MIKAEL JANSSON FOR GRAFF

Finally, the Night Moon collection features glittering diamonds reminiscent of starry night skies. These pieces feature pavé diamond half-moons in striking geometric motifs inspired by elemental shapes found in nature. 

The collection launched with a gorgeous campaign shot on location in the Atlantis Dune in South Africa. Mikael Jansson shot Portuguese supermodel Sara Sampaio in these remote dunes alongside custom-made blacked steel sculptures inspired by the motifs in the Tribal jewelry collection.

Source: DCLA

Graff Unveils New High-Jewelry Collection: Tribal

 

Graff is known for its exquisite diamonds. The London-based jewelry house has acquired many notable diamond acquisitions, some that set world records. As a vertically integrated jeweler, the house cuts, polishes, and sets these incredible diamonds in-house, allowing it to control every facet of these stunning diamonds. 

Graff is known for its incredible diamonds GRAFF

To coincide with the spring equinox, Graff unveiled Tribal, its newest high-jewelry collection. The collection focuses on white and yellow diamonds, with one exceptional emerald suite, in three sculptural motifs. The collection is inspired by the stories that our ancestors would tell themselves to explain the world around them and the heavens above, so these motifs focus on the sky, sun, and stars — a language understood around the world. 

Francois Graff, CEO of Graff, tells Forbes, “Tribal is a fabulous collection, inspired by the magical folktale of the girl who created the stars. For me, the iconic, timeless symbols that unite the collection evoke a deep feeling of being connected to the world around us on a universal level. Tribal raises the bar in high jewelry and pushes the boundaries of creativity, craftsmanship, and exceptional stones for which we are known.”

The Graff Gateway pieces feature abstract ovals GRAFF

Graff Graff Gateway features striking, architectural designs. These pieces feature abstract ovals with pear-cut or round diamonds within. They evoke swirling galaxies with a brilliant diamond star at the heart. For a more delicate, almost lace-inspired look, the Graff Gateway choker and cuff bracelets alternate rows of round diamonds and diamonds with a more subtle oval motif. 

The Sun Worship necklace features 374 white and yellow diamonds with a 10.56-carat pear-shaped Fancy … [+] GRAFF

The powerful New Dawn collection is inspired by the sun’s rays as it rises above the horizon. These pieces feature sunburst motifs set in white or yellow diamonds. Some diamond rays spiral from a significant central stone, while other pieces focus on geometric compositions. The Sun Worship necklace features 374 white and yellow diamonds with a 10.56-carat pear-shaped Fancy Vivid Yellow diamond in the center. 

Sara Sampaio wears the Night Moon pieces MIKAEL JANSSON FOR GRAFF

Finally, the Night Moon collection features glittering diamonds reminiscent of starry night skies. These pieces feature pavé diamond half-moons in striking geometric motifs inspired by elemental shapes found in nature. 

The collection launched with a gorgeous campaign shot on location in the Atlantis Dune in South Africa. Mikael Jansson shot Portuguese supermodel Sara Sampaio in these remote dunes alongside custom-made blacked steel sculptures inspired by the motifs in the Tribal jewelry collection.

Source: DCLA

Graff Unit Signs Polishing Deal with Lucapa

Graff-owned diamond manufacturer Safdico will cut and polish a portion of rough from the Lulo mine through a partnership with Lucapa Diamond Company.

Safdico will have the rights to buy up to 60% of Lulo’s annual rough production under the terms of Angola’s new reform program, which went into effect last year. The new guidelines open sales to a wider range of buyers of the miner’s choosing, rather than forcing producers to sell to a list of clients approved by state-owned diamond company Sodiam.

All diamonds Safdico purchases from Lucapa will be placed into the joint partnership, the miner said Wednesday. Once polished, procurement and manufacturing costs will be deducted, with any profit from the sale of the polished diamond to be split equally between Lucapa and Safdico.

Safdico has already purchased 4,900 carats of rough from Lucapa through the partnership. Profits from the sale of the first batch of polished will be realized in the first quarter, Lucapa noted.

Lucapa, which operates the mine in Angola, first announced its intention to polish its own diamonds in February 2019 in an effort to maximize shareholder value by cutting out third-party manufacturers. Earlier this month, the company also debuted its first polished stones from the Mothae mine in Lesotho. Those included six D-color diamonds from a 36-carat rough, the largest of which was a pear-shaped, 8.88-carat, flawless stone.

Lucapa also plans to expand its total group production to more than 60,000 carats in 2020, it said.

“This production increase, coupled with the new revenue streams generated from the cutting and polishing agreement with Safdico, will enable [the company] to generate higher returns for its partners,” Lucapa explained.

Source: DCLA

Graff Unit Signs Polishing Deal with Lucapa

Graff-owned diamond manufacturer Safdico will cut and polish a portion of rough from the Lulo mine through a partnership with Lucapa Diamond Company.

Safdico will have the rights to buy up to 60% of Lulo’s annual rough production under the terms of Angola’s new reform program, which went into effect last year. The new guidelines open sales to a wider range of buyers of the miner’s choosing, rather than forcing producers to sell to a list of clients approved by state-owned diamond company Sodiam.

All diamonds Safdico purchases from Lucapa will be placed into the joint partnership, the miner said Wednesday. Once polished, procurement and manufacturing costs will be deducted, with any profit from the sale of the polished diamond to be split equally between Lucapa and Safdico.

Safdico has already purchased 4,900 carats of rough from Lucapa through the partnership. Profits from the sale of the first batch of polished will be realized in the first quarter, Lucapa noted.

Lucapa, which operates the mine in Angola, first announced its intention to polish its own diamonds in February 2019 in an effort to maximize shareholder value by cutting out third-party manufacturers. Earlier this month, the company also debuted its first polished stones from the Mothae mine in Lesotho. Those included six D-color diamonds from a 36-carat rough, the largest of which was a pear-shaped, 8.88-carat, flawless stone.

Lucapa also plans to expand its total group production to more than 60,000 carats in 2020, it said.

“This production increase, coupled with the new revenue streams generated from the cutting and polishing agreement with Safdico, will enable [the company] to generate higher returns for its partners,” Lucapa explained.

Source: DCLA

Peace Diamond Sells For $6.5 million at auction

Named the Peace Diamond the 709 carat rough diamond is the 14^th largest ever recovered.

The rough diamond has sold for  $8.55 million at an auction in New York, with all proceeds going to the impoverished Sierra Leone diggers who discovered it.

Sierra Leone will now be watched closely to make sure they see the social benefits from the sale of the diamond as the government promised.

The buyer of the Rough Diamond is Laurence Graff. One of the world’s top jewellers and founder of Graff Diamonds.

Source: DCLA 

Peace Diamond Sells For $6.5 million at auction

Named the Peace Diamond the 709 carat rough diamond is the 14^th largest ever recovered.

The rough diamond has sold for  $8.55 million at an auction in New York, with all proceeds going to the impoverished Sierra Leone diggers who discovered it.

Sierra Leone will now be watched closely to make sure they see the social benefits from the sale of the diamond as the government promised.

The buyer of the Rough Diamond is Laurence Graff. One of the world’s top jewellers and founder of Graff Diamonds.

Source: DCLA