Kraken Halts Monero Deposits Amid 51% Attack as Qubic Group Eyes Dogecoin Next

In a startling development, the Qubic Group has successfully executed a 51% attack on Monero, forcing Kraken exchange to temporarily pause deposits. The group's community has now voted to target Dogecoin next, raising alarms about the security of the $35 billion memecoin. This article delves into the implications of these attacks and the potential risks to the broader cryptocurrency ecosystem.

Qubic Group Targets Dogecoin Following 51% Attack on Monero

Qubic's community has voted to make Dogecoin its next target after successfully executing a 51% attack on Monero. The group, which recently reorganized six blocks on Monero's network, now poses a potential security threat to Dogecoin, a memecoin with a market capitalization exceeding $35 billion.

The attack on Monero forced Kraken exchange to pause deposits, raising concerns about network integrity. A similar attack on dogecoin could enable block reorganization, transaction halts, or double-spending attempts, undermining user confidence.

Sergey Ivancheglo, Qubic's founder, confirmed the community's decision via social media after Dogecoin received over 300 votes—more than Zcash and Kaspa combined. The move highlights growing vulnerabilities in proof-of-work networks reliant on ASIC mining.