Kraken Temporarily Suspends Monero Deposits Amid Qubic Mining Group’s Alleged 51% Attack and Dogecoin Target Shift

In a controversial move, Qubic Mining Group has claimed responsibility for a 51% attack on Monero's network, demonstrating the ability to reorganize six blocks. This alleged attack, achieved with 2.3 gigahashes per second of mining power during a test period, has prompted Kraken exchange to temporarily suspend Monero deposits. Following the incident, the community voted to target Dogecoin next, marking a significant shift in the group's focus. This development underscores the ongoing vulnerabilities in blockchain networks and the potential risks posed by concentrated mining power. As of August 2025, the cryptocurrency community remains vigilant about the implications of such attacks on market stability and trust in decentralized systems.

Qubic Mining Group Targets Dogecoin After Alleged Monero 51% Attack

Qubic Mining Group has stirred controversy by claiming a 51% attack on Monero's network, demonstrating the ability to reorganize six blocks before community voting selected Dogecoin as its next target. The group's 2.3 gigahashes per second mining power allegedly achieved majority control during the test period, prompting Kraken exchange to temporarily suspend Monero deposits.

Dogecoin emerged as the community's choice with over 300 votes, surpassing Zcash and Kaspa in the selection process. Monero developers remain divided on whether the attack constituted sustained network control, though blockchain evidence confirms the pool's capacity to alter recent transaction history.

The incident highlights persistent vulnerabilities in proof-of-work cryptocurrencies, where majority hashpower control enables transaction reversals and double-spending. Market participants are now watching whether Qubic will attempt similar demonstrations on Dogecoin's network.

Monero (XMR) Suffers 51% Attack, Kraken Halts Deposits

Monero's privacy-focused blockchain is under siege. A 51% attack, orchestrated by mining pool Qubic, has forced Kraken to temporarily suspend XMR deposits. The exchange now demands 720 confirmations for transactions, citing "significant consolidation of hash rate under a single entity."

Qubic claims this was an experiment leveraging their chain's unique consensus models. While no damages are reported yet, history shows such attacks often precede double-spend exploits. The incident underscores the fragility of smaller networks against computational dominance.