tldr; Kraken has suspended Monero (XMR) deposits after a confirmed 51% attack on the network linked to the Qubic mining pool, which controlled over half of Monero’s hashrate. The attack caused a six-block deep reorganization of the blockchain, raising concerns about the vulnerability of mid-tier Proof-of-Work networks. Kraken assured that XMR trading and withdrawals remain operational. The incident has reignited debates on mining centralization and privacy coin security, with Monero’s price dropping by 14% before partially recovering.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Kwayzar9111 on
Ouch
defiCosmos on
I thought they never actually got 51%.
Vipu2 on
But Monero people said it didn’t happen? Did kraken do mistake here
peepeepoopooxddd on
They’re not actually at 51% and it’ll be hard to sustain. That being said, it looks like they’ll get there eventually. I would unironically sell all XMR you have because they seem hellbent on reaching it – this could render the network useless and worthless.
As a side note, I do wonder if this company is just a cover for an intelligence agency (CIA/MI5/Interpol) because of XMR’s use predominantly in illegal activity like the online drug trade.
8512764EA on
MONERO IS SAFE AND SECURE AND PRIVATE
Totally /s
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tldr; Kraken has suspended Monero (XMR) deposits after a confirmed 51% attack on the network linked to the Qubic mining pool, which controlled over half of Monero’s hashrate. The attack caused a six-block deep reorganization of the blockchain, raising concerns about the vulnerability of mid-tier Proof-of-Work networks. Kraken assured that XMR trading and withdrawals remain operational. The incident has reignited debates on mining centralization and privacy coin security, with Monero’s price dropping by 14% before partially recovering.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Ouch
I thought they never actually got 51%.
But Monero people said it didn’t happen? Did kraken do mistake here
They’re not actually at 51% and it’ll be hard to sustain. That being said, it looks like they’ll get there eventually. I would unironically sell all XMR you have because they seem hellbent on reaching it – this could render the network useless and worthless.
As a side note, I do wonder if this company is just a cover for an intelligence agency (CIA/MI5/Interpol) because of XMR’s use predominantly in illegal activity like the online drug trade.
MONERO IS SAFE AND SECURE AND PRIVATE
Totally /s