Close Menu
Chain Tech Daily

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Metaplanet expands Bitcoin holdings with 775 BTC purchase

    August 18, 2025

    Imagen Network Strengthens Creator Economy with the Integration of XRP for Instant Settlements

    August 18, 2025

    Dogecoin targeted by Qubic group after 51% attack on Monero 

    August 18, 2025
    Facebook X (Twitter) Instagram
    Chain Tech Daily
    • Altcoins
      • Litecoin
      • Coinbase
      • Crypto
      • Blockchain
    • Bitcoin
    • Ethereum
    • Lithosphere News Releases
    Facebook X (Twitter) Instagram YouTube
    Chain Tech Daily
    Home » Kraken freezes Monero deposits, Qubic grabs 51% hashrate
    Crypto

    Kraken freezes Monero deposits, Qubic grabs 51% hashrate

    James WilsonBy James WilsonAugust 17, 20252 Mins Read
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Kraken suspended Monero deposits after detecting that a single mining pool gained majority control of the network’s hashrate.

    The exchange cited security concerns following what appears to be a successful 51% attack on the privacy-focused blockchain.

    “As a security precaution, we have paused Monero (XMR) deposits after detecting that a single mining pool has gained more than 50% of the network’s total hashing power,” Kraken announced Friday.

    The exchange added that the concentration of mining power poses a potential risk to the network’s integrity.

    Monero in trouble: Kraken freezes deposits, Qubic grabs 51% hashrate - 1
    Source: Kraken announcement

    Qubic, an AI-focused blockchain and mining pool, claimed it achieved 51% hashrate dominance over Monero following a month-long technical confrontation.

    “After a month-long, high-stakes technical confrontation, Qubic reached 51% of Monero’s hashrate dominance, successfully reorganizing the blockchain,” Qubic representatives announced Tuesday.

    Pool survives denial of service counterattack

    While Monero community members initially denied the attack claims, mining pool statistics now confirm Qubic as the dominant Monero miner.

    Qubic faced resistance during its takeover attempt, briefly falling to seventh place among Monero miners. On August 4, the pool suffered a denial-of-service (DDoS) attack, which significantly reduced its computational power.

    The DDoS attack dropped Qubic’s hashrate from 2.6 gigahashes per second to just 0.8 GH/s, according to Sergey Ivancheglo, who claimed responsibility for the 51% attack. Denial-of-service attacks flood networks with fake traffic, disrupting legitimate operations.

    Despite the counterattack, Qubic recovered its hashing power and accumulated enough computational resources to control majority network operations. Current mining statistics confirm Qubic’s position as the top Monero mining pool.

    Kraken’s deposit suspension aims to prevent potential losses from double-spending attacks while the network remains compromised.

    Other exchanges may implement similar measures until normal mining distribution resumes.

    A 51% attack allows attackers to spend the same coins multiple times by reversing confirmed transactions. Exchanges become primary targets in such attacks since they handle large transaction volumes and hold significant cryptocurrency reserves.

    The Monero network’s proof-of-work consensus mechanism requires majority hashrate control to validate transactions. Qubic’s dominance theoretically gives it the power to reorganize blocks and censor transactions on the network.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    James Wilson

    Related Posts

    Crypto August 18, 2025

    Metaplanet expands Bitcoin holdings with 775 BTC purchase

    Crypto August 18, 2025

    Dogecoin targeted by Qubic group after 51% attack on Monero 

    Crypto August 18, 2025

    These 2 affordable coins could reach $1 sooner than leading coins

    Crypto August 18, 2025

    Lazarus strikes again? $23m theft topples crypto platform

    Crypto August 18, 2025

    Investors favor this new coin under $1 and another coin under $4 over a leading token

    Crypto August 17, 2025

    This rising memecoin has potential to100x sooner than a leading coin hits 6k

    Leave A Reply Cancel Reply

    Don't Miss
    Crypto August 18, 2025

    Metaplanet expands Bitcoin holdings with 775 BTC purchase

    Metaplanet is not slowing down on its accumulation of Bitcoin, boosting its portfolio with fresh…

    Imagen Network Strengthens Creator Economy with the Integration of XRP for Instant Settlements

    August 18, 2025

    Dogecoin targeted by Qubic group after 51% attack on Monero 

    August 18, 2025

    These 2 affordable coins could reach $1 sooner than leading coins

    August 18, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • YouTube
    • LinkedIn
    Our Picks

    Metaplanet expands Bitcoin holdings with 775 BTC purchase

    August 18, 2025

    Imagen Network Strengthens Creator Economy with the Integration of XRP for Instant Settlements

    August 18, 2025

    Dogecoin targeted by Qubic group after 51% attack on Monero 

    August 18, 2025

    These 2 affordable coins could reach $1 sooner than leading coins

    August 18, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Don't Miss
    Crypto August 18, 2025

    Metaplanet expands Bitcoin holdings with 775 BTC purchase

    Metaplanet is not slowing down on its accumulation of Bitcoin, boosting its portfolio with fresh…

    Imagen Network Strengthens Creator Economy with the Integration of XRP for Instant Settlements

    August 18, 2025

    Dogecoin targeted by Qubic group after 51% attack on Monero 

    August 18, 2025

    These 2 affordable coins could reach $1 sooner than leading coins

    August 18, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    About Us
    About Us

    ChainTechDaily.xyz delivers the latest updates and trends in the world of cryptocurrency. Stay informed with daily news, insights, and analysis tailored for crypto enthusiasts.

    Our Picks

    For Many Women, The Pain Of The Pandemic Led To Stronger Friendships

    January 15, 2020

    How A ‘Healthy’ Lifestyle Can Be Making You Tired

    January 15, 2020

    Fashion Influencers To Follow On Instagram In 2021

    January 15, 2020
    Lithosphere News Releases

    Imagen Network Strengthens Creator Economy with the Integration of XRP for Instant Settlements

    August 18, 2025

    Imagen Network Enhances Content Discovery and Interaction with Grok AI Integration

    August 15, 2025

    Imagen Network Integrates Grok AI to Deliver More Personalized and Engaging Social Experiences

    August 14, 2025

    Imagen Network (IMAGE) Boosts User Engagement Using XRP for Instant Social Transactions

    August 13, 2025
    X (Twitter) Instagram YouTube LinkedIn
    © 2025 Copyright

    Type above and press Enter to search. Press Esc to cancel.