Kraken freezes Monero deposits, Qubic grabs 51% hashrate

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

The exchange cited security problems according to what seems to be a successful 51% attack on the blockchain focused on privacy.

“As a precaution of security, we took a monero break (Xmr) Deposits after detecting that a single mining swimming pool has gained more than 50% of the total chopping power of the network, “Kraken announced on Friday.

The exchange added that the concentration of mining has a potential risk to the integrity of the network.

Qubic, a blockchain and a mining swimming pool focused on AI, said it had reached a 51% hatching domination over Monero after a one -month technical confrontation.

“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 representatives of Qubic announced on Tuesday.

The swimming pool survives the counterattack of the denial of service

While members of the Monero community initially denied attack complaints, the statistics of the mining swimming pool now confirm Qubic as the Dominant Monero minor.

Qubic faced a resistance during his attempted takeover, briefly falling in seventh place among the minors of Monero. On August 4, the swimming pool underwent a denial of service (DDOS) attack, which considerably reduced its computing power.

The DDOS attack abandoned the Hashrate of Qubic of 2.6 gigahash per second at only 0.8 GH / S, according to Sergey Ivancheglo, which claimed the responsibility of the 51%attack. The attacks of the denial of service flood the networks of false traffic, disturbing legitimate operations.

Despite the counterattack, Qubic has recovered its hash power and has accumulated enough calculation resources to control majority network operations. Current mining statistics confirm the position of Qubic as a superior exploitation pool of Monero.

The Kraken deposit suspension aims to prevent the potential losses of double expenditure attacks while the network remains compromised.

Other exchanges can implement similar measures until the normal mining distribution resumes.

A 51% attack allows attackers to spend the same parts several times by reversing the confirmed transactions. Exchanges become primary targets in such attacks because they manage large transaction volumes and contain significant cryptocurrency reserves.

The MONERO network proof consensus mechanism requires a majority control of Hashrate to validate transactions. The domination of Qubic theoretically gives him the power to reorganize blocks and censorship transactions on the network.