SlowMist Cosmos: Qubic Leveraged Economic Incentives Game to Accomplish a 51% Attack Against Monero, Moving $3 Billion and Impacting $5 Billion Realized

BlockBeats News, August 12th, SlowMist founder Cao Yun commented on the Monero 51% attack incident, saying, "Very interesting. The Qubic mining pool used an economic incentive game theory to carry out this 51% attack on Monero XMR, which I believe was not malicious in nature. It can be seen as a theoretical scenario of $3 billion (QUBIC market cap) affecting $50 billion (Monero market cap) becoming a reality..."

Prior reports indicated that IOTA co-founder Sergey Ivancheglo's project Qubic rapidly accumulated a large amount of Monero hash rate through a "useful Proof of Work (uPoW)" mechanism. On August 12th, Qubic briefly controlled 52.72% of the Monero network's hash rate (approximately 3.01 GH/s). Once surpassing 51%, Qubic could reject blocks from other pools, leading to chain reorganization, double spending, or transaction censorship. The Monero community has initiated resistance and defense actions, while Qubic has described this as a technical demonstration and not a malicious attack.