Qubic Community Votes to Attack Dogecoin Next Following Monero Breach
The Qubic community has voted to launch a 51% attack on Dogecoin after successfully taking control of the Monero network earlier this week.
The Qubic Community, an AI-focused blockchain project, has voted to launch a 51% attack on Dogecoin after successfully taking control of the Monero network earlier this week.
Qubic Targets Dogecoin Next in 51% Attack
After taking majority control of Monero in a 51% attack, the Qubic community has now turned its sights on Dogecoin.
This comes after Sergey Ivancheglo, founder of the Qubic Network, requested the Qubic community to vote on which cryptocurrencies using application-specific integrated circuits (ASICs) and proof-of-work blockchain should be targeted next. Options include Doge, Zcash, and Kashpa.
Ivancheglo confirmed that the group voted to make DOGE the next target for a coordinated network takeover.
Dogecoin, with a market capitalization of over $35 billion, received more than 300 votes, surpassing Zcash and Kashpa by a wide margin.
If Qubic’s 51% attack on Dogecoin works, the network could become unsafe. Transactions may slow down or stop, and attackers could try to spend the same coins twice.
This could damage trust in Dogecoin, pushing exchanges or businesses to pause payments, shake investors’ confidence, and cause big swings in DOGE’s price.
Qubic Gains Control of Monero
The Qubic team also revealed a successful 51%attack on Monero, gaining majority control of Monero’s computing power.
This is after its mining pool reorganized six blocks and generated a hashrate of about 2.32 gigahashes per second (GH/s), winning a month-long war over the network’s hashrate with Monero’s miners.
In addition, the Qubic team noted that its main objective for the takeover is for Monero’s protocol security to be provided by its miners, emphasizing that the network’s core functionality, which includes privacy, speed, and usability, remains uncompromised.
After the Monero attack, Kraken exchange paused XMR deposits, saying they will reopen once the network is safe.
. Despite the suspension, XMR withdrawals and trading are still open to users.
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