Clearly an operation by the US government to secure all details of all NoIp users and build a network of all their forwarding etc.
The heck does MS have anything to do with policing an independent DNS provider? And why did they feel the need to reroute and log ALL requests to the root domains through their own NSA data centres? Surely they were just specific registered subdomains which belonged to the criminal's networks?
The fact is, if you're using no-ip, chances are you're serving something, and with Operation Minerva and dozens of internet infiltration operations currently on going, they want to know exactly what information you're serving to their subjects.
Think about it. Without the layer of No-Ip, a government would need to serve individual court orders to international ISPs to obtain details of individuals serving things from dynamic IP addresses. With No-Ip it's just means infiltrating one company and they get a whole chunk of personal information relating to a huge share of internet activity. They now know exactly what IP address you have been assigned by your ISP and they know in real-time. Previously, they would have to submit individual court orders highlighting the date and time of the alleged offence, try to convince a judge, and then the ISP would look through their logs and provide them with the details of who had that IP at that time. Now they have a huge live-database of your account and what IP address you're using.
If you have a no-ip address expect to be probed heavily by security services from now on.