BitcoinSistemi 2025-08-12 10:20:09

Is a Crash Coming for This Privacy-Focused Altcoin? Ledger CTO Issues Statement on Recent Events! Here Are the Details

Ledger CTO Charles Guillemet stated in a statement on the X platform that the privacy-focused cryptocurrency Monero was subjected to a successful 51% attack as of this morning. Ledger CTO: 51% Attack on Monero Network Alleged Launched in 2014, Monero has long been a target of governments and law enforcement agencies around the world and has been mostly delisted from major centralized exchanges. According to Guillemet, a mining pool called Qubic has been steadily increasing the network's processing power (hash rate) for months, gaining a majority share today. A major blockchain reorganization event was detected this morning. It was stated that with this power, Qubic could arbitrarily rewrite the blockchain, perform double-spend attacks, and censor any transactions it wanted. The daily cost of sustaining such an attack is estimated to be around $75 million. Guillemet emphasized, however, that while the potential gains are substantial, such an attack would almost immediately undermine the Monero network's foundation of trust, potentially leading other miners to lose their incentives and withdraw from the network. Ledger’s CTO described the situation as “the $300 million Qubic chain taking over the $6 billion Monero chain.” According to Guillemet, Monero’s options are extremely limited, and the possibility of a complete collapse is not only possible, but inevitable. *This is not investment advice. Continue Reading: Is a Crash Coming for This Privacy-Focused Altcoin? Ledger CTO Issues Statement on Recent Events! Here Are the Details

Most Read News

U.S. DOJ Crypto Seizure: Decisive Blow to Bla...
2025-08-13
ARB Breaks Long-Term Downtrend; Key Support a...
2025-08-13
Coinfest Asia, the World’s Largest Crypto Fes...
2025-08-13
US Authorities Seize $1 Million in Bitcoin fr...
2025-08-13
August’s Potential Moonshots — Small-Cap Altc...
2025-08-13
Pantera Leads $20M Openmind Funding Round
2025-08-13
[LIVE] Crypto News Today: Latest Updates for...
2025-08-13
Binance Delisting: Crucial Changes for Spot T...
2025-08-13

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.