SlowMist Cosmos: Successful 51% Attack Against Monero, Qubic Pool Can Rewrite the Blockchain

BlockBeats News, August 12th, SlowMist founder 余弦 stated that a 51% attack on Monero appears to have been successful. The Qubic mining pool can now theoretically rewrite the blockchain, achieve double spending, and review any transactions. The cost of this attack is high, and it is still uncertain what the attacker's economic benefit is. It is recommended that relevant platforms be aware of potential threats and stay vigilant.

Ledger's Chief Technology Officer Charles Guillemet tweeted, "Monero seems to be facing a successful 51% attack. The Qubic mining pool has been accumulating hash power for months and now controls most of the network's hash rate. 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 daily cost to sustain this attack is as high as $75 million."