Recent Developments in the World of Crypto: Bitcoin Fees Surpass Ethereum, DAO Secures Rights to Doge Meme Image, Akira Ransomware Nets $42M
The world of cryptocurrency has been buzzing with major developments in recent days, with Bitcoin fees surpassing those of Ethereum for three consecutive days. According to Crypto Fees, on April 17, Bitcoin miners collected $7.47 million in fees, outpacing the $7.31 million paid to Ethereum stakeholders. This increase in Bitcoin fees comes ahead of the upcoming Bitcoin halving event, which will reduce mining rewards and force miners to rely more on transaction fees.
Ethereum, however, still maintains a lead in average fees over a 7-day period, with $8.55 million compared to Bitcoin’s $7.57 million. The introduction of NFT-like Ordinals engravings in January 2023 has helped Bitcoin miners earn more revenue from transaction fees, and the upcoming release of Runes, a new Bitcoin token standard, during the halving at block 840,000 is expected to provide a new revenue stream.
In other news, Own The Doge, a decentralized autonomous organization associated with the Dogecoin token, announced that it has secured legal rights to the iconic Doge meme image. The project worked with legal experts in Japan and the United States to purchase the rights to Kabosu’s image, the Shiba Inu behind the meme. This move opens up opportunities for partnerships with big brands and further development of the Dogecoin ecosystem.
On a more concerning note, the FBI has reported that the Akira ransomware group has breached over 250 organizations and extracted approximately $42 million in ransom payments. The ransomware, which initially targeted Windows systems, has now been found to have a Linux variant as well. Global cybersecurity agencies are warning businesses and critical infrastructure entities to be vigilant against this threat and to continuously test their security systems to prevent attacks.
These developments in the world of crypto highlight the ongoing challenges and opportunities in the industry, as well as the need for increased security measures to protect against cyber threats.
