Monero coin suspected of 51% Attack, network security is at risk.

[Coin World] Ledger's Chief Technology Officer Charles Guillemet stated that Monero appears to be facing a successful 51% Attack. This privacy-focused Blockchain was born in 2014 and has long been targeted by governments and law enforcement agencies around the world, and is now delisted from most mainstream Centralized Exchanges. The Qubic Mining Pool has been continuously accumulating Computing Power for months and now controls the majority of the network's Computing Power. A significant chain reorganization event was detected this morning, and with the current advantage, Qubic can rewrite the Blockchain at will, implement double spending attacks, and censor any transaction. Maintaining such an attack costs about $75 million daily. Although the potential gains are considerable, it could almost overnight destroy the trust foundation of the entire network, causing other Miners to lose motivation to continue Mining—because Qubic can easily isolate any competing blocks, effectively becoming the sole Miner. This is akin to a $300 million market capitalization chain (Qubic) taking over a $6 billion (Monero) chain. Monero's options for response are extremely limited, and a complete collapse is not only possible but may have already become a foregone conclusion.

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RadioShackKnightvip
· 08-13 00:52
Damn, xmr has also been hacked.
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GasWastervip
· 08-12 09:09
The real nature of the roll
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SelfMadeRuggeevip
· 08-12 09:04
Has the last bastion of privacy fallen?
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GateUser-40edb63bvip
· 08-12 08:58
A day in the crypto world is like a year in the mining world.
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PebbleHandervip
· 08-12 08:58
The little miner should have rug pulled long ago.
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CryptoGoldminevip
· 08-12 08:53
The cost efficiency of a 51% Attack is only 0.03, which is not worth it.
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