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2w ago

Qubic’s Claimed 51% Monero Takeover Curtailed by Rapid Miner Boycott

Community miners redirected hashing power below 15% after Qubic demonstrated a majority takeover with a confirmed chain reorganization.

Qubic claims majority control of monero hashrate, raising 51% attack fears
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Monero rocked by successful 51% attack as Qubic pool seizes control
Monero’s 51% attack problem: inside qubic’s controversial network takeover

Overview

  • Qubic’s founder Sergey Ivancheglo claimed the mining pool secured over 51% of Monero’s hashrate using a Selfish Mining strategy.
  • Security experts, including SlowMist founder Yu Xian and Ledger CTO Charles Guillemet, reported orphaned blocks and a significant chain reorganization on the Monero network.
  • Within hours of the takeover claim, Monero miners coordinated boycotts and redirection campaigns that cut Qubic’s hashrate share from nearly 45% to below 15%.
  • Monero’s native token XMR plunged into double-digit losses as exchanges saw heightened volatility in response to centralization fears.
  • Analysts warn that Monero’s low mining rewards and current incentive model leave the network vulnerable to future majority hashrate attacks without protocol or reward reforms.