Crypto Exchange Kraken temporarily interrupted Monero (XMR) deposits due to the current attack of 51% against the private life blockchain, which compromised network security.
A 51% attack occurs when a mining pool controls more than 50% of the total hash power of a blockchain network, which gives it the opportunity to double and reorganize transactions on the big book. The Kraken Exchange wrote Friday:
“As a security precaution, we interrupted Monero’s deposits after detecting only one mining pool has gained more than 50% of the total hashness of the network. This mining concentration presents a potential risk for the integrity of the network.”
Qubic, a blockchain and a mining swimming pool focused on the AI of layer-1, said that he controlled the majority of the Monero hashrate on Monday and reorganized six blocks, which prompted the refusals of the Monero community.
Monero is a major protocol preserving confidentiality and the 29th largest crypto by market capitalization, according to CoinmarketCap. The current attack of 51% against the network sent shock waves via the Monero community, triggering a wave of responses.
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Unique mining pool supposes network control
“After a technical confrontation with high issues of one month, Qubic reached 51% of the domination of Hashrate de Monero, successfully reorganizing the blockchain,” the spokesperson for Qubic.
The mining swimming pool was initially pushed back into its attempt to take control, falling towards the seventh minor of the protocol and was struck by an alleged service of denial of service on August 4.
A denial of service (DDOS) attacks a computer, a network or a server with a false incoming traffic, obstruct the system and prevent the real traffic from passing.
The DDOS attack against the Qubic has greatly reduced the hashrate of the mining swimming pool by 2.6 gigahash per second (GH / S) to only 0.8 GH / S, according to Sergey Ivancheglo, the individual who claimed the responsibility for the 51%attack.
However, the Pool Qubic recovered its hash power, ultimately controlling the majority of the computing power on the Monero network.
“This event marks a pivotal moment in the cryptography industry,” continued the spokespersons of Qubic, while highlighting the control of a confidentiality protocol of $ 6 billion by an AI protocol of $ 300 million.
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