Qubic Likely Executed 51% Attack on Monero — I See Limited Recovery

I believe the Qubic mining pool appears to have carried out a 51% attack on Monero (XMR). Ledger's CTO Charles Guillemet reported that Qubic accumulated significant hashrate over months and now seems to control most of the Monero network, which allowed a large chain reorganization this morning. Although Qubic reportedly paid substantial costs to achieve this dominance, it has effectively become the primary miner on the network.

I note that Monero, launched in 2014 and often labeled a privacy-focused or "darkcoin"-type project, was delisted from many exchanges because of its emphasis on anonymity. SlowMist founder Cos also warned platforms to remain alert to such threats. The Monero community had previously stated that it repelled a Qubic 51% attempt at the end of last month, but current signals suggest the attack may have succeeded now.

Market reaction reflects heightened concern: XMR, still ranked around #30 by market cap, fell about 7.44% in the past 24 hours to approximately $256.94 on CoinMarketCap. Given the reported network control and the history of exchange delistings, I view Monero's near-term recovery prospects as limited unless decisive countermeasures are taken by the community or exchanges.