In the world of blockchain, the 51% attack is one of the biggest threats. It happens when one person or group has more than 50% of the hashing power of the whole network. It is exactly this kind of thing that is making the cryptoverse buzz today. Sergey Ivancheglo, the founder of Qubic, says that his project’s mining pool now controls more than 50% of Monero’s hashrate.
Monero (XMR) is one of the most popular privacy-focused cryptos. Its RandomX algorithm encourages everyday users to mine with their CPUs. All of this was done to keep mining open and decentralised, which makes it a little harder for someone to take over. Ivancheglo says that the project has recently crossed the important 51% mark thanks to a system that gives Qubic its time in the spotlight, which he calls “useful proof-of-work” (uPoW).
The way Qubic works is different. It pays people who mine Monero with their CPUs, takes the XMR they make, sells it to USDT, which then buys QUBIC tokens and burns them. This starts a cycle of deflation that makes QUBIC more valuable and draws more computing power into Monero mining. From mid-May to late July, Qubic’s share of Monero’s total hashrate grew from less than 2% to more than 25%, and at times it even topped the mining pool charts. After a short time of coming back down, when there was a lot of community backlash, Ivancheglo’s latest comments show that the project took back control and even stopped reporting hashpower levels at its pool to show would-be attackers that they weren’t at risk.
What a 51% Attack Could Mean
Ledger’s CTO, Charles Guillemet, has said that Monero “appears to be in the midst of a successful 51% attack.” He pointed to a “major chain reorganisation” that could let transactions be censored, blocks be reordered, and even double-spending.
In theory, if Qubic had control of the majority of the hashrate, it could change the production of blocks in the near future, orphan competitor blocks, and change the confirmations of transactions. Guillemet thought that keeping this level of control might cost about $75 million a day. That’s a huge amount of money, but it could make people lose faith in Monero if it keeps going.
But not everyone is sure that this is a real majority takeover. Luke Parker, the lead developer at SeraiDEX, says that Qubic may have done a six-block reorganisation instead of a full-scale 51% attack. It is hard to check Qubic’s claims without clear hashrate data, and analytics suggest that they may not have more than 51% overall.
Why This Is Important Outside of Monero
No matter if Qubic really has most of the power, this situation shows how crypto trends are changing in 2025, when blockchain security, mining economics, and token incentives are all connected. It also reminds us that even networks that are meant to be decentralised can end up being controlled by a small group of people in the right circumstances.
Understanding these changes is important for investors, developers, and blockchain leaders. There is no doubt that the issues brought up here, such as sustainable mining models, network resilience, and governance, will be hot topics at upcoming global blockchain panel discussions.
HODL Dubai, 30–31 October 2025: Where These Talks Will Take Place
HODL Dubai, which will take place on October 30 and 31, 2025, is the best place to hear the inside story on events like this, meet top decision-makers, and find out about the best projects to invest in.
HODL Dubai is more than just another blockchain conference; it’s one of the best crypto summit 2025 events. It’s a private deal-making platform where billion-dollar partnerships start over coffee, private investor-founder matchmaking sessions open up new opportunities, and famous speakers share their honest market insights.
HODL Dubai is where strategies are made, partnerships are formed, and the future of blockchain is written, whether you’re going to the cryptocurrency summit sessions, the blockchain panel discussions, or the private networking lounges.
The Whole Picture
The Monero–Qubic case is just one example of the many problems and chances that blockchain networks are dealing with right now. The choices made now will have an impact on the future of the industry, from mining economics to decentralisation protections.
That’s why events like HODL Dubai are so important. They bring together the smartest people in the field to talk about these changes, share their own experiences, and set the stage for what’s to come.
Mark your calendar for October 30–31, 2025, if you want to be a part of these talks and the deals that will shape the future of the blockchain summit. Being in the right room at the right time can make a big difference in blockchain.
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