🚨 Monero Faces 51% Attack Scare
Privacy coin Monero (XMR) is under pressure after Qubic—led by IOTA co-founder Sergey Ivancheglo—claimed control of over 51% of its network hashrate, sparking fears of block reorgs, transaction censorship, and double-spends.
💥 Impact:
Price dropped ~6–11% in 24h.
Community reportedly launched DDoS attacks against Qubic’s mining pool, briefly slashing its hashrate before recovery.
Debate grows over Monero’s decentralization and resilience.
📅 Looking Ahead:
Unstoppable Wallet will add XMR support on Aug 18—a boost after Exodus dropped it.
Privacy coins face rising regulatory scrutiny, and this event intensifies security concerns.
📊 Key takeaway: While Monero’s community is fighting back, its security model is under the spotlight like never before.