Kraken Suspends Monero Deposits Amid 51% Attack as XMR Defies Odds with Price Surge

In a surprising turn of events, Monero (XMR) not only survived a significant 51% attack on its network but also saw its price surge by $11 within 24 hours. The privacy-focused cryptocurrency rallied from $256 to $266, accompanied by a 56% increase in trading volume, totaling $83.38 million. This price resilience came despite Qubic's temporary control of over 80% of block production, which raised concerns about the network's decentralization. Kraken, one of the leading cryptocurrency exchanges, responded to the incident by suspending XMR deposits as the network's hashrate peaked at 2.71 GH/s during the attack. The event highlights Monero's robustness and the market's confidence in its long-term value, even in the face of severe network threats. As of August 17, 2025, XMR continues to demonstrate its resilience, further solidifying its position in the privacy coin sector.

Monero Survives 51% Attack as XMR Defies Threat with $11 Surge

Monero (XMR) weathered a significant 51% attack on its network hashrate, yet paradoxically saw its price climb $11 within 24 hours. The privacy-focused cryptocurrency rallied from $256 to $266 amid a 56% volume surge, with $83.38 million traded—even as Qubic's temporary control of over 80% of block production threatened its decentralization ethos.

Kraken suspended deposits as hashrate peaked at 2.71 GH/s during the incident, which Qubic later characterized as a "test" of network resilience. The exchange maintained trading and withdrawals while evaluating security protocols, reflecting the delicate balance between operational continuity and risk management in decentralized systems.

Market reaction proved unexpectedly bullish—the initial price dip created buying opportunities before XMR recovered, demonstrating crypto investors' appetite for volatility. The Fear and Greed Index remained neutral throughout, suggesting tempered sentiment despite the protocol-level drama.