Monero Under 51% Attack as Qubic Pool Gains Majority Hashrate

Main Idea
The Qubic mining pool executed a 51% attack on Monero, causing an 8% drop in XMR price and a 4% rise in QUBIC token value, sparking debates on the attack's motives and impact.
Key Points
1. Qubic mining pool briefly controlled over 52% of Monero's hashrate, executing a 51% attack.
2. The attack led to an 8% drop in XMR price and a 4% rise in QUBIC token value on the day.
3. Qubic's approach involves rewarding miners with QUBIC tokens, creating an economic ecosystem to support its computing power.
4. Debate continues regarding the true extent and motives behind the attack, with some skepticism about its success.
5. The incident highlights ongoing concerns about network security and resilience in the crypto community.
Description
Qubic mining pool briefly controlled over 52% of Monero hashrate. Attack caused 8% XMR price drop; QUBIC token rose 4% on the day. Debate continues on true extent and motives behind the 51% attack. The Qubic mining pool team has successfully carried out a 51% attack on the Monero network, taking control of more than half of the hashrate, SlowMist founder Yu Xian said. This experiment was previously announced by Qubic’s head and IOTA co-founder Sergey Ivancheglo, who described the initiative as a...
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