Qubic likely successfully executed 51% attack on Monero

Charles Guillemet, Chief Technology Officer (CTO) of cryptocurrency hardware wallet maker Ledger, recently stated on X that the Qubic mining pool appears to have successfully executed a 51% attack on the privacy-focused blockchain Monero. A 51% attack occurs when a single entity controls over half of a network’s total hash power, allowing it to dominate and manipulate the blockchain. Guillemet explained that Qubic accumulated hashrate over several months and now holds majority control of the Monero network. This dominance enables Qubic to reorganize the blockchain, facilitate double-spending and censor transactions, actions that undermine network trust and discourage other miners from participating. A large-scale chain reorganization was detected this morning, and despite the significant costs incurred by Qubic, it has effectively become the sole mining pool. Cos (@evilcos), founder of blockchain security firm SlowMist, also urged related platforms to remain vigilant against such threats. Previously, the Monero community announced on July 29 that it had successfully thwarted a 51% attack attempt by Qubic. According to CoinMarketCap, XMR currently ranks 30th by market capitalization and is trading at $254.23, down 8.12% over the past 24 hours.