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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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Did the old Crypto Monero (XMR) suffer a 51% attack?
In Monero, which is one of the privacy-focused blockchains and has even been delisted from many centralized exchanges recently due to the increase in crypto regulations, a 51% attack may be occurring. Information provided by experts and on-chain tracking analysts shows that the control of the Monero network has passed to the Qubic mining pool.
"The cost can be too high"
The founder of the crypto security firm Slowmist, speaking on the subject, commented on Chinese social media; "I have been following this for a while, and it seems that this time the 51% attack on Monero has been successful. The cost could be very high. Therefore, I don't know what the return of such an attack would be."
"Double spending can be done"
Charles Guillemet, the CTO of cold wallet manufacturer Ledger, also stated that Qubic has long wanted to take over the Monero system:
"We detected significant changes on the Monero chain this morning. The Qubic mining pool has been trying to increase its hashrate capacity for months. With its current power, Qubic can rewrite the blockchain, conduct double spending, and censor any transaction. The daily cost of this attack appears to be around 75 million dollars. A chain worth 300 million dollars can take over another chain worth 6 billion dollars. Currently, Qubic has a chance to be the sole miner. There is a possibility of taking over the entire chain."
It has not yet reflected in the price
Despite the mention that many factors that could make the blockchain unusable have transitioned to Qubic, the decline in XMR, the main token of the network, seems to be limited. In the last 24 hours, XMR has only dropped by 9% and is trading around the $250 level at the time this news was written.
What is a 51% attack?
The "51% attack", which has been talked about for a long time in the world of crypto and blockchain but has been forgotten in recent years, is a situation where more than 50% of the mining power is seized.
The person or group that gains control of the mining power, that is, the hashrate, can do whatever they want on the network. For example, they can spend a coin twice or more. They can also adjust the transactions on the chain according to their wishes and hold power in this matter.
Published: August 12, 2025 13:18Last Updated: August 12, 2025 13:32