ChainCatcher News: Slow Fog founder Yu Xian tweeted that the 51% attack on Monero seems to have been successful. The Qubic mining pool can theoretically rewrite the blockchain, enabling double spending and reviewing any transactions. The cost of the attack is high, and it is still uncertain what the economic gain for the attacker is. Relevant platforms are advised to be aware of potential threats and to stay vigilant.
Ledger CTO Charles Guillemet tweeted that Monero appears to be undergoing a successful 51% attack. The Qubic mining pool has been accumulating computing power for months and now controls a majority of the network's hash rate. A significant chain reorganization was detected this morning. With its current hash rate, Qubic can rewrite the blockchain, implement double spending, and review any transactions. The cost to maintain this attack is estimated to be as high as 75 million dollars per day.
