Hello friends!
Today I want to talk about something big happening in the privacy crypto space. Monero, one of the strongest privacy coins out there, is facing what many call a possible 51% attack. This is when a single group controls more than half of the network’s mining power, which means they could reorganize blocks, censor transactions, or even double spend.
The one claiming to have done it is Qubic. They say they ran a big mining campaign, slowly growing their share of Monero’s hashrate until they could pass the 51% mark. According to them, they even managed to reorganize several blocks and remove some transactions from the chain. If true, this is a very serious situation.
Their method is interesting (they offered to pay extra rewards to miners in USDT) while also burning their own token. This attracted huge amounts of miners away from the rest of the network and into their pool. In a short time, their share of mining power exploded!
Of course, not everybody agrees with their story. Some developers say there’s not enough proof this was a real 51% attack. Others believe Qubic might be exaggerating or using tricks with the hashrate reports to make it look bigger than it really is. But the truth is, Monero’s price reacted fast, falling in price but just 10%.
Why does this matter? Because Monero is the most important privacy coin. It uses Proof of work like Bitcoin. If something happens to XMR (Monero) it's bad news for the space.
Whether this is a real attack or just a stress test, it’s a wake-up call for the Monero community. Privacy coins are only as strong as the decentralization behind them, and this shows that even the most secure networks need constant defense.
Stay safe! And be very careful my friends!!
Posted Using INLEO