🛡️ Security alert in the crypto world! 🚨
A 51% attack has been reported on the Qubic network, also indirectly affecting #Monero (#XMR).💥
🔍 What happened? Qubic, a proof-of-work (PoW) network that uses Monero as one of its base cryptocurrencies for computational work, suffered a reorganization of its blockchain because an attacker gained control of more than 50% of the network's computing power. This allowed for transaction reversals and potentially double spending.😨
🔗 How is this related to Monero?
Although the attack targeted Qubic, the security infrastructure of this network partly relied on the integrity of Monero mining.
This incident highlights the potential vulnerabilities when smaller projects depend on the security of larger blockchains for their operation. It is important to note that the main Monero network was NOT compromised. ✅
⚠️ The Qubic community has been responding to the attack, investigating the causes, and seeking solutions to strengthen its network against future incidents. This event serves as a crucial reminder of the risks associated with smaller PoW networks and the importance of robust decentralization. 💪
🗣️ What lessons can we learn from this attack? How do you think it will affect the perception of security in projects that rely on other blockchains?
Share your thoughts in the comments! 👇
