Blockchain security concerns rise as selfish mining disrupts privacy coin operations
Monero, the well-known privacy-focused cryptocurrency, is experiencing significant network instability after a wave of discarded blocks linked to selfish mining activity by the Qubic network.
According to Monero Consensus Status data, around 60 orphaned blocks were recorded within the last 24 hours — an unusually high figure that has drawn attention from blockchain analysts and cybersecurity experts. The disruption coincides with Qubic’s public claims of having reached a 51% control over Monero’s network hashrate.
Qubic miners are reportedly redirecting computing power from their own network to mine Monero, selling the rewards to purchase and burn Qubic tokens while receiving payouts in QUBIC. This approach, combined with selfish mining tactics, can lead to honest miners’ blocks being rejected in favor of those strategically released by the attacker.
Blockchain security expert Zhong Chenming, co-founder of SlowMist, commented that, if true, the attack could allow Qubic to “rewrite the blockchain, execute double-spending, and censor transactions.” However, he also noted the high operational costs involved, making long-term sustainability uncertain.
Not all experts agree that a full 51% attack has occurred. Data from CoinWarz estimates Monero’s total hashrate at 5 GH/s, while Qubic’s own reports indicate a peak of 3.01 GH/s — enough to temporarily challenge the network, but not conclusively control it.
Luke Parker, lead developer at SeraiDEX, noted that “a six-block-deep reorganization does not necessarily prove a successful 51% attack” and could be the result of an adversary with significant hash power getting lucky.
Ongoing “Hack War”
This incident is the latest escalation in what observers describe as a hack war between the two networks. Previous months saw Qubic accusing Monero developers of network interference, while Monero supporters claimed Qubic’s mining strategy amounted to an economic takeover attempt.
Cybercrime legal experts suggest that while no explicit laws mention 51% attacks, actions causing deliberate blockchain disruption could fall under computer sabotage or unauthorized access provisions in certain jurisdictions.
With Monero’s price dipping over 8% in 24 hours, the market is watching closely to see whether this is a short-term skirmish or the start of a longer struggle for network control.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.