After network attack on Monero: Dogecoin is next target

INFBusiness
31.08.2025
Markets

It's the ultimate nightmare scenario: An entity gains more than half of the network hashrate and thus takes control of block production. For proof-of-work blockchains like Bitcoin, this is an existentially threatening network attack—assuming it's malicious.
Last week, the privacy coin Monero experienced exactly this attack, and it was successful. A group of miners achieved 51 percent of the hashrate and somewhat disrupted block production. Apparently, this was just a kind of show of force. The attack was carried out by the crypto project Qubic, which focuses on AI applications.
Das cited the 51 percent attack as proof of the potential of a consensus process, which Qubic describes as Useful Proof of Work, an extension of the classic PoW process. “The Monero mining initiative began as a proof of concept,” the team said.
An initial attempt was met with “fierce resistance,” “including a sustained DDoS attack that Qubic’s infrastructure survived for over a week.”
The final, successful foray began on August 11 with the use of a more sophisticated “selfish mining” strategy. This technical tactic, which proved effective at slightly less than and at times more than 51 percent of the total hashrate, involved the Qubic pool secretly mining and withholding blocks.
“The sudden appearance of orphan blocks on the Monero network in the days leading up to today was a clear sign that Qubic's strategy was working. It enabled the Qubic pool to gain a disproportionate share of the block rewards and ultimately the network's consensus,” Qubic said, describing the process.
The decision was then made “not to adopt the consensus of the protocol for the time being,” it continues, presumably also out of consideration for possible price fluctuations.
As serious as the consequences could be – the crypto exchange Kraken paused trading in Monero as a precautionary measure – the Qubic attack could also create a positive incentive structure, at least the project claims.
“The ultimate goal is for the security of the Monero protocol to be ensured by Qubic's miners. This way, rewards would be channeled through Qubic's pools, creating greater profitability and new, higher incentives for Monero miners,” Qubic said.
Dogecoin supporters should also take notice here, as the network of the first memecoin has already been chosen as the next victim, as Qubic founder Sergey Ivancheglo announced on X.

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