PANews August 12 news, Slow Mist founder Yu Xian stated that the Qubic mining pool has recently gathered a large amount of computing power through economic incentives, and it is suspected that it has successfully carried out a 51% attack on the Monero network. Qubic founder Sergey Ivancheglo admitted that after controlling the majority of the computing power, they could rewrite the blockchain, implement double spending, and censor transactions. Although Qubic called this a technical demonstration, the Monero community expressed concerns about the decentralization and security of the network, and has called for miners to distribute their computing power to reduce risks.
It has previously been reported that Monero is facing a network takeover attempt initiated by the Qubic mining pool, which has sparked strong opposition from the community.
