US Edition
XMR News: Inside Qubic’s Controversial 51% Takeover of the Monero Blockchain
Qubic mining pool gained over 51% of Monero's hashrate, enabling potential double-spend attacks and causing a 10% price drop, raising concerns about network security and decentralization.
- On Tuesday, August 12, the Qubic mining pool obtained more than 51% of the Monero network’s hashrate, claiming to have crossed the threshold.
- On Tuesday, one entity gained the ability to perform a potential 51% attack on Monero, after growing from less than 25%.
- Wu Blockchain reported Qubic’s dominance over Monero’s hashrate, with Zhong Chenming stating the 51% attack 'appears to have actually prospered.'
- Community-Led miner boycotts cut Qubic’s share from nearly half to under 15%, while Monero’s price shows signs of forming a bullish base near key Fibonacci levels.
- Calls are growing for protocol changes to disperse mining power as analysts warn low miner rewards leave Monero vulnerable to future 51% attack attempts.
16 Articles
16 Articles
Qubic Claims Successful 51% Monero Network Takeover
Qubic, a project led by former IOTA co-founder Sergey Ivancheglo, claims to have achieved majority control of Monero’s hashrate, reaching 51% dominance after “a month-long, high-stakes technical confrontation.” This level of control theoretically allows Qubic to reorganize blocks, censor transactions, and attempt double-spends on Monero’s privacy-focused token XMR. The project deployed a “useful proof-of-work” model that converted XMR mining rew…
Qubic, a layer-1 blockchain project that pools mining resources, has been trying a 51% attack on Monero and says it succeeded, causing Monero's price to fall
Adrian Zmudzinski / Cointelegraph: Qubic, a layer-1 blockchain project that pools mining resources, has been trying a 51% attack on Monero and says it succeeded, causing Monero's price to fall — at 1:30 pm UTC): This article has been updated to add a Qubic announcement. Layer-1 blockchain Qubic said it has …
Cardano Founder Calls Minotaur the Key to Beating 51% Attacks
Cardano founder Charles Hoskinson has urged the blockchain industry to adopt stronger security measures after Monero suffered a significant 51% attack. He highlighted Cardano’s Midnight sidechain and its Minotaur consensus protocol as proof that networks can resist such threats. Hoskinson explained that Minotaur combines Proof of Work (PoW) and Proof of Stake (PoS) into a multi-resource consensus model. This spreads control across different reso…
Cardano Founder Highlights Midnight’s Strength After Monero Hit by 51% Attack
Cardano founder Charles Hoskinson has stressed the need for stronger blockchain defenses after a major security breach shook the Monero network. Responding to the recent incident, he called attention to Cardano's Midnight sidechain and its Minotaur consensus protocol as examples of how to build a network that can withstand such threats. Notably, Hoskinson explained that Minotaur uses a multi-resource consensus model that blends Proof of Work (Po…
Monero (XMR), the privacy-focused cryptocurrency, has fallen 15% in the last seven days, down 6.4% this Tuesday (12). The drop is linked to a 51% attack by Qubic. Led by Sergey...
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
