Monero Suffers 51% Attack Incident as Qubic Claims Story Is Not Over, DOGE Listed as Next Target

BlockBeats News, August 27th: Following the 51% attack incident on Monero, the perpetrator known as Qubic stated in a post that the story is not over yet. According to a community vote conducted by Qubic this week, Dogecoin (DOGE), with a market capitalization exceeding 35 billion USD, has been identified as their next target for attack.

On August 12th, Qubic executed a 51% attack on Monero (XMR) using an economic incentive game, leveraging 75 million USD to disrupt 5 billion USD in reality. Through the "useful Proof-of-Work (uPoW)" mechanism, they rapidly accumulated a significant amount of Monero (XMR) hash rate, temporarily controlling 52.72% of the Monero network's hash rate, resulting in the reorganization of 6 blocks and orphaning 60 blocks. Initial reports indicate that within two hours, Qubic mined 80% of Monero's total blocks. For more details on the incident, please refer to "75 Million Attacking 5 Billion Giant, What Are They Really Up To?".