Slow Fog Cosine: Qubic's 51% attack on Monero is suspected to have been successful

ChainCatcher news, Slow Mist founder Yu Xian tweeted that the 51% attack on Monero seems to have been successful. The Qubic mining pool can now theoretically rewrite the blockchain, enabling double spending and reviewing any transactions. The cost of the attack is high, and it is still uncertain what the economic gain for the attacker is. Relevant platforms are advised to be aware of potential threats and stay vigilant.

Ledger CTO Charles Guillemet tweeted that Monero appears to be experiencing a successful 51% attack. The Qubic mining pool has been accumulating hash power for months and now controls most of the network's hash power. A significant chain reorganization was detected this morning. With its current hash power, Qubic can rewrite the blockchain, implement double spending, and review any transactions. The estimated cost to maintain this attack could be as high as $75 million per day.