The Crypto Exchange Crackon has temporarily halted the Monero (XMR) deposit due to the ongoing 51% attack against privacy-centered blockchain, which has compromised on the safety of the network.
A 51% attack occurs when a mining pool controls more than 50% of the total hash power of the blockchain network, giving it the ability to double-expenses and restore the transaction on the laser. The Crackon Exchange wrote On Friday:
“As a safety precaution, we have stopped the Monero deposit after finding out that a single mining pool has obtained more than 50% of the total hash power of the network. This concentration of mining power induces a possible risk for network integrity.”
Cubic, a layer -1 AI -centered blockchain and mining pool, claimed that it controls the majority of Monero’s Hasht on Monday and reorganize six blocks, inspiring the denial of attack from the Monero community.
Monroe is a major privacy-protection protocol, and the 29th largest crypto by market capitalization, According For coinmarketcap. The 51% attack on the network has sent shockwaves through the Monroe community, triggering a wave of reactions.
Connected: Monero ‘Economic Attack’ receives strong community reaction
Single mining considers the control of the pool network
“After a month long, high-day technical confrontation, Cubic Monero’s hasht reached 51% of Dominance, successfully reorganized the blockchain,” the spokesperson of the cubic wrote On Tuesday.
The mining pool was initially reprimanded in an attempt in an acquisition, fell into the seventh-big mine of the protocol and was killed on August 4 with an alleged denial of the service attack.
Service refusal (DDOS) attack prevents the closing of the system and stopping real traffic, with fake traffic with a computer, network, or server.
The DDOS attack on Cubic reduced the hash of the mining pool from 2.6 gigahashes per second (GH/s) to only 0.8 Gh/S, According For Sergei Evanchglo, the person who claimed responsibility for the 51% attack.
However, the cubic pool recovered its hash power, eventually controlling the majority of computing power on the Monero network.
“The incident marks a significant moment in the Crypto industry,” Quick spokesperson continued, while highlighting the acquisition of $ 6 billion secrecy protocol by $ 300 million AI protocol.
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