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Monero 51% Attack: Qubic Controls Hashrate, Risking Double-Spends

I believe the SlowMist founder's assessment that the Qubic mining pool has pulled off a successful 51% attack on Monero is credible. Reports say Qubic now controls most of the network's hashrate, and a significant chain reorganization has been detected. Given that dominance, Qubic would be in a position to rewrite blockchain history, execute double-spend attacks, and censor transactions on the Monero network. The Ledger CTO also noted that sustaining such an attack could cost roughly $75 million per day.

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AI Analysis

The claim centers on a classic 51% attack scenario: when a single miner or mining pool controls the majority of network hashing power, it can outpace honest miners and reorganize blocks. The reported ...

AI Recommendation

Given the severity of a successful 51% attack and the immediate threats of double-spend and censorship, I recommend reducing exposure to Monero until the situation is clearly resolved. For holders, co...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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