The controversial altcoin Monero (XMR) attack that shook the market is turning in a different direction.
As a reminder, the Monero (XMR) network experienced a serious security concern last week when a mining pool took control of more than 50% of the network's total processing power (hashrate).
While it was noted that a 51% attack poses a potential risk to the integrity of the network, this attack was undertaken by Qubic.
Qubic, an AI-focused blockchain project that carried out a 51% attack on Monero and took control of the majority of the network's processing power, did not remain idle despite the Monero attacker being very new and set its new target.
At this point, Qubic founder Sergey Ivancheglo asked the Qubic community which altcoin the group's next 51% attack should target.
In a poll initiated by Sergey Ivancheglo, members were asked to choose the next target from Dogecoin (DOGE), Kaspa (KAS), and Zcash (ZEC).
As a result, the Qubic community voted to target Dogecoin in the next planned 51% attack.
Dogecoin received over 300 votes, surpassing the total of all other candidates.
These results came immediately after Qubic announced that it had taken control of 51% of Monero's hash rate in a previous attempt.
What Happened?
The Qubic team announced last week that it had taken majority control over the processing power used to secure the Monero network.
The team later stated, "The core functionality of the Monero network remained intact. Its privacy, speed, and usability were not compromised."
The team stated that their goal is to ensure the security of the Monero protocol by Qubic miners.
However, Kraken temporarily suspended Monero transactions. The exchange halted deposits due to the potential risk to network integrity posed by a single miner taking over 51% of Monero.
Stay tuned for updates
