$6B Privacy Coin Monero Was Just Hijacked for $100K/Day – Here’s
0Altcoins
Monero
Privacy
A single mining entity, the Layer-1 blockchain Qubic, claims it seized 51% of Monero’s hashrate.
Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
About Author
Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...
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Monero, the $6 billion privacy coin long touted as one of crypto’s most censorship-resistant networks, has suffered a major setback.
Key Takeaways:
Qubic claims it gained 51% control of Monero’s hashrate after a month-long campaign.
The takeover coincided with a six-block chain reorganization that replaced 60 blocks.
Monero developers dispute that a full 51% attack occurred, while some security experts say the attempt appears to have succeeded.
A single mining entity, the Layer-1 blockchain Qubic, claims it seized 51% of Monero’s hashrate, a level of control that in theory could rewrite the chain, double-spend transactions, or censor activity — all for an estimated cost of just $100,000 per day.
The revelation came from a recent post by X user Pix, who summarized the incident as a textbook case of “too big...
https://cryptonews.com/news/6b-privacy-coin-monero-was-just-hijacked-for-100k-day-heres-why-thats-terrifying/
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