Qubic Suspected of Implementing 51% Attack on Monero, Facing Network Security Concerns

According to HashChain news, SlowMist founder Yu Xian stated that the Qubic mining pool has recently gathered a large amount of computing power through economic incentives, and is suspected of having successfully carried out a 51% attack on the Monero network. Qubic founder Sergey Ivancheglo admitted that once the majority of computing power is controlled, the blockchain can be rewritten to achieve double spending and audit transactions. Although Qubic claims this move is a technical demonstration, the Monero community has expressed concerns about the decentralization and security of the network, and has called for miners to decentralize their computing power to reduce risks. Earlier reports also indicated that Monero was facing an attempted network takeover initiated by the Qubic mining pool, which has sparked strong opposition from the community.