Slow Mist's Yu Xian: Qubic utilized economic incentive game theory to complete a 51% attack on Monero, leveraging 300 million to realize 5 billion dollars

BlockBeats news, August 12, Slow Mist founder Yu Xian commented on the 51% attack incident on Monero, stating, "It's very interesting. The Qubic mining pool utilized economic incentive game theory to achieve this 51% attack verification on Monero XMR (I believe the intention was not malicious). It can be seen as a theoretical realization where 300 million dollars (QUBIC market value) leveraged 5 billion dollars (Monero market value)..."

According to previous reports, IOTA co-founder Sergey Ivancheglo's project Qubic quickly accumulated a large amount of Monero (XMR) hash power through the 'useful proof of work (uPoW)' mechanism. On August 12, Qubic briefly controlled 52.72% of the Monero network's hash rate (approximately 3.01 GH/s). Once it exceeds 51%, Qubic can reject blocks from other mining pools, leading to chain reorganization, double spending, or transaction review. The Monero community has launched resistance and defense actions, while Qubic claims this move is a technical demonstration, not a malicious attack.