Shocking 51% Attack: Qubic Mining Pool Hijacks Monero Network—Security in Jeopardy

Monero’s vaunted privacy couldn’t protect it from a brutal takeover. The Qubic mining pool just pulled off a 51% attack—proof that even crypto’s ‘fortresses’ have cracks.

How did it happen? Hashrate hegemony. Qubic amassed enough mining power to rewrite transactions, shaking confidence in Monero’s immutability. PoW chains aren’t bulletproof—just ask the traders now sweating their XMR bags.

The fallout? Exchanges freezing deposits, developers scrambling for fixes, and the usual chorus of ‘decentralization theater’ cynics. Meanwhile, Wall Street smirks—another ‘unhackable’ crypto narrative bites the dust.

SlowMist’s founder confirmed that the Qubic mining pool has successfully carried out a 51% attack on Monero. Qubic now controls most of the network’s hashrate, causing a significant chain reorganization. This control lets Qubic rewrite transaction history, perform double-spend attacks, and block transactions. Ledger’s CTO warned that sustaining this attack could cost around $75 million per day, highlighting serious risks to Monero’s network security.