In August 2025, Monero's blockchain underwent a 51% hashrate attack, resulting in significant implications for both the network and the cryptocurrency community.
Details of the Attack and Its Implications
The attack on Monero, conducted in mid-August 2025 by the Qubic team under Sergey Ivancheglo’s leadership, significantly affected the network's stability. The incident demonstrated the potential for **chain reorganization**, leading to industry unrest.
Market Reactions and Community Responses
Following the attack, Monero’s price fell by 6.65% within 24 hours. The cryptocurrency community witnessed increased **withdrawal volumes** from exchanges due to concerns about network integrity. Financial actions taken by Qubic, such as converting **mining rewards** into USDT, also contributed to liquidity changes.
Conclusions and Future Security Outlook
Despite operational disruptions, Monero's **transaction speed** and privacy features remained intact. Kraken suspended Monero deposits to ensure safety until network security can be reaffirmed. Historical trends indicate similar attacks have occurred on other networks like **Ethereum Classic**, highlighting the need for enhanced security measures.
The successful execution of a 51% attack on Monero raises significant questions about its security and future in the cryptocurrency space.
