$6B Privacy Coin Monero Was Just Hijacked for $100K/Day – Here’s Why That’s Terrifying

Key Points

1. Qubic claims it achieved 51% control of Monero's hashrate after a month-long campaign, resulting in a six-block chain reorganization that replaced 60 blocks.

2. The takeover briefly caused Monero's price to drop by around 7%, raising concerns about the network's security.

3. Monero developers dispute Qubic's claim, arguing that the chain reorganization does not definitively prove a successful 51% attack.

4. The Monero community allegedly launched a DDoS attack against Qubic's mining pool, temporarily reducing its hashrate.

5. Qubic stated it has paused the takeover, framing it as a demonstration of blockchain competition rather than an attack.