So, apparently, someone – a mining pool called Qubic, bless their little centralized hearts – briefly became a bit *too* good at Monero. Like, controlling over half the hashrate good. 2.6 GH/s. Which, honestly, sounds like something from a sci-fi movie, not a cryptocurrency. 🙄
Attack and…Kraken’s Mild Panic?
Qubic, with their newfound power, decided to rewrite some history. Six blocks worth, to be precise, leaving a sad pile of 60 blocks orphaned. Poor things. Kraken, in a move they’re calling a “security precaution” (read: mild panic), has paused Monero deposits. Withdrawals and trading? Fine, apparently. Because what’s a little blockchain reorganization to a seasoned exchange? 🤷♀️
Monero, you know, the privacy coin. The one everyone loves to… scrutinize. It’s had its glitches before – a flooding attack in 2024; a bit spilled milk, really. But *this* – this is the first time someone’s actually messed with its core. Oh dear.
The Sound of Silence (and Angry Tweets)
The Monero devs? A bit quiet, shall we say? Some people are… displeased. Unstoppable Wallet called it “pathetic”. Honestly, can’t blame them. It’s always awkward when the bad guys are better at PR. Qubic is having a field day, meanwhile. Classic. 🍿
XMR‘s Dramatic Rollercoaster
The market reacted, naturally, with a 14% dip. Very dramatic. It’s bounced back though, currently sitting at $256.41 (as of August 16th). Up 8% in 24 hours. So, you know. Don’t panic sell. Unless you want to. I’m not your financial advisor, obviously. 😉 It’s currently valued at $4.73 billion. Numbers, numbers everywhere.
This whole thing really highlights how wobbly smaller Proof-of-Work networks can be. And just adds another lovely layer of regulatory scrutiny to privacy coins. Because nothing says “freedom” like constantly being watched, right? 😒
Disclaimer: This is just for laughs. Don’t come crying to me if your crypto goes south. Do your own research, okay? And maybe see a therapist. Because crypto is stressful.
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2025-08-17 13:43