🪙 51% attack on Monero – a wake-up call for the entire industry

On August 12, something happened that made many rethink the security of PoW blockchains. Qubic, a company founded by an IOTA co-creator, managed to gain control of over 51% of Monero’s hashrate, effectively dictating mining rules for several hours.

For years, majority attacks were seen as a threat only to smaller chains. But this time, a network with a market cap of over $5B was hit.

📆 Back in June, Qubic announced it would redirect idle computing power to mine Monero. By August 12, in just four hours, they mined 63 out of 122 blocks – enough to dominate the network. No double spends were recorded, but the blockchain reorg showed that the risk is no longer theoretical.

The community was divided. Some experts called it a successful attack undermining trust, others pointed out there was no evidence of malicious intent. Still, controlling over half of the hashrate is a systemic risk in itself. Shortly after, Qubic’s infrastructure was hit with DDoS attacks, reducing its dominance and easing tension.

👉 Want to dive deeper into what a 51% attack means, why it’s so dangerous, and what could happen next with Monero?
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