Overview
Qubic, a project founded by IOTA’s co-creator Sergey Ivancheglo, asserts that it has gained over 51% of Monero’s mining power, leading to significant concerns regarding the cryptocurrency’s decentralization. The project has described its actions as an experiment, utilizing economic incentives and a unique mining model to attract miners from other pools.
Key Points
- The price of Monero’s XMR token has decreased by 6% in the last 24 hours as the community questions if the network can withstand prolonged control from an external entity.
- In blockchain environments that employ proof-of-work protocols, surpassing 51% control allows an operator to alter transaction histories, double spend, and potentially censor transactions.
Risks Associated with Control
Monero, recognized for its privacy-oriented features, is undergoing a critical security risk. Qubic’s takeover is raising discussions among developers and miners about the true strength of Monero’s decentralization.
Quote
“Qubic achieved a 51% share of Monero. This marks a significant milestone. They are set to be the first to manipulate a cryptocurrency through a 51% attack.” - Caffeinated User | ꓘ & ױ (@CaffeinatedUser) [August 11, 2025]
*Translation: Qubic achieved a 51% share of Monero. This marks a significant milestone. They are set to be the first to manipulate a cryptocurrency through a 51% attack.
Ledger’s CTO, Charles Guillemet, indicated that maintaining such an attack could cost approximately $75 million daily and could undermine the network’s trust rapidly.
Conclusion
The ambitious maneuver by Qubic is not simply aimed at disrupting Monero but aims to show that economic tactics and coordinated mining efforts can yield substantial control over larger networks. As this situation continues to develop, the future of Monero hangs in the balance, prompting a closer inspection of its security and operational framework.
