New Target After Monero
The community of Qubic, a project focused on integrating artificial intelligence with blockchains, voted to launch a 51% attack on Dogecoin. This was announced by Qubic founder Sergey Ivancheglo, also known by the pseudonym Come-from-Beyond. Kaspa and Zcash were also among the options, but Dogecoin received more than 300 votes – more than all the other networks combined.
Monero Hashrate Under Control
The day before, Qubic confirmed that it had gained control over the majority of Monero’s computing power. Its mining pool outpaced competitors and managed to reorganize six blocks, completing a month-long struggle for hashrate. According to MiningPoolStats, at the time of publication, the Qubic pool’s power stands at about 2.32 GH/s.
The project team stated that “the functionality of the Monero network remained unchanged,” and that the privacy, speed, and usability of the token were not affected. At the same time, Qubic openly noted that it intends in the future to secure Monero exclusively through its own miners.
Exchange Reaction
Following the attack, crypto exchange Kraken temporarily suspended deposits in XMR, citing a potential threat to the integrity of the network. Trading and withdrawals of Monero continue to operate normally. The exchange said it will reopen deposits once it deems the network safe.
Context and Risks
Dogecoin, Qubic’s next target, operates on the Proof-of-Work algorithm and has a market capitalization of more than $33 billion. The successful attack on Monero has shown that even large PoW blockchains can be vulnerable to coordinated actions by mining pools. Continuing this practice may create additional pressure on the mining ecosystem and the resilience of the affected networks.
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