Cosine: The Qubic mining pool is suspected of successfully launching a 51% attack on Monero, theoretically able to rewrite transactions

SlowMist founder Yu Xian posted a post claiming that the Qubic mining pool recently used economic incentives to amass a significant amount of computing power, potentially enabling a successful 51% attack on the Monero network. Qubic founder Sergey Ivancheglo admitted that controlling a majority of the computing power could allow them to rewrite the blockchain, perform double spends, and censor transactions. While Qubic described the move as a technical demonstration, the Monero community has expressed concerns about network decentralization and security, and has called on miners to disperse their computing power to mitigate risk.