Ethereum’s decentralized application ecosystem saw a 16% increase n the number of unique active wallets interacting with it in the first quarter of the year.

Users have filed a class-action lawsuit against stablecoin issuer MakerDAO over the alleged $8 million in losses suffered on ‘Black Thursday’ when the crypto market crashed.

The U.S. government has published a list of alleged cybercrimes North Korea committed involving cryptocurrencies. The list includes cryptojacking, heists, crypto exchange hacks, and ransomware campaigns.

Top stories in the Crypto Roundup today:

• Ethereum’s Dapp Ecosystem Saw a 16% Increase in Active Wallets in Q1
• Users Sue Stablecoin Issuer MakerDAO Over ‘Black Thursday’ Losses
• U.S. Government Publishes List of North Korea’s Alleged Crypto Crimes

At the time of writing, bitcoin (BTC) is trading at $6,910.21 (0.77%) with a daily Top Tier volume of $3.30 bn. As for ether (ETH), it is trading at $166.17 (4.68%) with a daily Top Tier volume of $1.14 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,511.63 (3.26%).

Ethereum’s Dapp Ecosystem Saw a 16% Increase in Active Wallets in Q1

Data from analytics firm DappRadar shows Ethereum’s decentralized application ecosystem saw a 16% increase in active wallets in the first quarter of this year, compared to the last quarter of 2019. ETH’s dapp usage growth was of 64%.

In its 2020 Q1 Dapp Industry Review, the firm detailed that decentralized finance applications saw the number of unique active wallets interacting with them jump by 86%, while decentralized exchanges saw the number grow 99%. Smart contracts on the Ethereum blockchain reportedly interacted with 81% of the total value across all blockchains, interacting with nearly 17,500 unique active wallets by the end of March.

The report reads:

“Looking at token value. Ethereum accounted for 81% of the total value of $6.7 billion of value that interacted with all smart contracts across all blockchains during Q1 2020.”

Competing blockchains support decentralized applications that didn’t grow as Ethereum did. EOS, despite processing 13% of the over $6.7 billion processed by smart contracts in Q1, saw a drop of 10% in dapp activity in the quarter, and of 70% compared to the previous year. The drop has partly been attributed to the EIDOS airdrop, which caused congestion on the EOS network at the time.

TRON saw an 18% increase in dapp usage in Q1 2020, but is down 15% when compared to the previous year. Much of the activity on the TRON blockchain, DappRadar pointed out, came from gambling and high-risk applications.

Users Sue Stablecoin Issuer MakerDAO Over ‘Black Thursday’ Losses

A class-action lawsuit, that could represent up to 3,000 investors, has been filed against the Maker Foundation. The suit comes on behalf of investors who lost funds following a protocol failure on Marc h12, a day that is now known “Black Thursday,” that saw the price of most cryptoassets crash.

It alleges the Maker Foundation and associated parties – including the Dai Foundation and the Maker Ecosystem Growth Foundation – “intentionally misrepresented the risks associated with CDP ownership” which allegedly led to the loss of $8.325 million on March 12.

The lawsuit was filed in the Northern District Court of California by lead plaintiff Peter Johnson represented by Harris Berne Christensen LLP of Portland, Ore. Maker has revealed it’s aware of the lawsuit and said it will “address all questions as directly as possible,” while John expects 1,000 investors to join the lawsuit after a discovery period.

It’s seeking payments equivalent to the funds investors lost, plus the cost of punitive damages weighted at $20 million, interest, and additional costs.

U.S. Government Publishes List of North Korea’s Alleged Crypto Crimes

In a new warning, the United States government published a list of the alleged crimes the North Korean government has committed related to cryptocurrencies and the cryptocurrency space.

In a document, the U.S. departments of State, Treasury, and Homeland Security, along with the Federal Bureau of Investigation (FBI), pointed to a list of cybercrimes including cryptojacking, money laundering, extortion campaigns, and exchange hacks among others to argue that cutting Pyongyang’s money flow is vital to stopping the regime’s development of weapons of mass destruction.

The document “strongly” urges governments, industry, civil, society, and individuals “to take all relevant actions” to stop future attacks from occurring. North Korea, it’s worth noting, is believed to have raised $1.5 billion in cryptocurrency.

North Korea’s focus on cryptocurrencies dates back to 2017, as Pyongyang has been blamed for the WannaCry ransomware attack that infected thousands of computers throughout the world demanding a bitcoin ransom.

Since then, the U.S. agencies claim, the so-called “Hidden Cobra” has been mounting increasingly sophisticated campaigns to acquire cryptocurrency. These included cryptojacking to raise $25,000 in XMR.

The Best and Worst Cryptos for 2020

by Martin D. Weiss, Founder of Weiss Ratings

 

The Bitcoin Halving will hit in mid-May. So what can we expect?

After the first Halving in 2012, prices soared 96-fold. After the second Halving in 2016, prices increased 29 times. And as impressive as this is, don’t forget that many altcoins did even better.

Of course, history is no guarantee of the future, and investors should not expect to again make the kinds of astronomical gains that were possible in the past. But with the next Halving fast-approaching, this raises some urgent questions:

Should investors stick with Bitcoin only?

Or should they also buy altcoins? If so, which ones?

And which altcoins should they avoid?

On April 21, during a special crypto broadcast, my team and I will answer these questions. We will …

• Reveal the eight cryptocurrencies we believe you should avoid
• Name our top two cryptocurrencies right now
• Show you how to time your entry and exit in the market

Plus, we’ll share our crypto timing model, a powerful system that helps investors identify the best time to buy and sell cryptocurrencies.

To secure your seat for this special broadcast, click here.

Space is limited and the deadline for registration is near. So the only way to guarantee your place is to sign up now.

Looking forward to seeing you there!

Best wishes,

Martin D. Weiss, PhD

Founder, Weiss Ratings

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