Monero miners block Qubic’s attempted hashrate takeover

Monero’s community successfully pushed back against Qubic’s effort to control over 50% of the network’s hashrate, reducing it from a peak of 40% in July to under 15% after a coordinated boycott. Qubic, led by IOTA co-founder Sergey Ivancheglo, claimed the move was to raise awareness of 51% attack risks. Analysts suggest it may have been a publicity stunt, as the Qubic token surged 70% while Monero dropped 5%. Though no attack occurred, concerns remain over Monero’s low security budget and potential future threats, DL News reported.