Monero, the privacy-focused cryptocurrency, has seen significant disruption due to an ongoing attempted 51% attack by the Qubic network. Within the last 24 hours, the Monero network has experienced 60 orphaned blocks, which are valid blocks excluded from the main blockchain. Qubic miners, who reportedly earn more than Monero miners, are engaging in selfish mining—redirecting their computing power to mine Monero while incentivizing the burning of Qubic tokens. This situation has led to the potential for rewriting transactions and censorship of future blocks. Qubic's founder claimed they have achieved 51% control over Monero, but there is skepticism as the peak hashrate of Qubic does not conclusively demonstrate successful control. Despite this, the price of Monero has decreased over 8.6%, standing at over $247. The incident highlights the vulnerabilities within blockchain systems and raises questions about the economic motivations behind such attacks.

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