Catenaa, Wednesday, August 13, 2025- Qubic, a mining pool project, claimed control of more than half of Monero’s hashrate, raising alarms about a possible 51% attack on the privacy-focused blockchain.
The claim, made by Qubic’s founder Sergey Ivancheglo, suggests the pool can reorder blocks, censor transactions, or reverse payments on the Monero network.
This comes after months of a sustained campaign to gather hashrate using a model that incentivizes CPU mining and converts mined Monero into stablecoins to support its token economy.
Between May and July, Qubic’s share of Monero’s mining power rose sharply from under 2% to more than 25%, with attempts to demonstrate majority control ongoing through August.
Some experts, including Ledger’s CTO, noted evidence of a six-block reorganization and warned that controlling the majority of hashrate could cost tens of millions daily, putting the network’s integrity at risk.
Still, the claim faces skepticism. Security firm SlowMist and other developers question the profitability of Qubic’s approach and the accuracy of its reported hashrate.
Some suggest Qubic may have executed a partial reorganization rather than a full 51% attack, citing a lack of transparent data.
