For the first time ever, a coin has openly announced its intention to 51% attack none other than Monero, the world’s most popular privacy coin.
The attacking project “Qubic” is now devoting all of its computing power to attempt to takeover Monero, by ordering its miners to mine Monero, effectively acting as a botnet.
As you know, if miners reach 51% of a cryptocurrency’s hashrate (mining power over time) they can take over the coin. Qubic’s founder has openly stated their goal is to take over Monero’s block rewards, and force out other miners on the Monero network by excluding them from mining rewards.
Qubic’s community are quick to point out screenshots of high hashrates which imply that Qubic is mining upwards of 30% of Monero’s total hashrate.
Still, the open intention to take over another coin shouldn’t be ignored. If you care about privacy, consider learning how to mine Monero. The way to defend against this is, for more independent miners to mine Monero.
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