Monero Price Rebounds as Qubic’s 51% Attack Claim Faces Scrutiny

Monero (XMR) bounced back after reports of a 51% attack by the Qubic mining pool raised concerns over the network’s stability. While initial headlines rattled traders and exchanges, fresh analysis suggests Qubic may have overstated its control of Monero’s hashrate—fueling a debate over both the security of privacy coins and the integrity of the mining pool itself.

Did Qubic Really Control 51% of Monero’s Network?

On August 15, Monero’s price dipped to $233 after Qubic claimed to have gained majority control of the network’s hashing power, prompting Kraken and other exchanges to halt XMR deposits. But just days later, Monero surged 4% to $276, defying bearish sentiment across the wider crypto market.

Some analysts argue the rebound reflects growing skepticism about Qubic’s claims. A trader known as Smart Degen suggested Qubic’s true hashrate was closer to 38%, far short of the threshold required to mount a successful attack. Others believe Qubic exaggerated its dominance in order to lure miners into joining its pool.

The controversy sparked a swift backlash within the Monero community. Reports indicate that Qubic faced both miner boycotts and DDoS attacks, while adoption of P2Ppool and solo mining gained momentum. These countermeasures appear to have reduced Qubic’s share of the hashrate to around 30%, weakening its influence.

What It Means for Monero’s Security and Price

Although doubts persist about whether Qubic ever achieved majority control, the episode underscores that even partial dominance—around 35–40%—can unsettle markets and exchanges. The quick recovery of Monero’s price, however, highlights investor confidence in the project’s resilience and decentralized community response.

As of today, XMR continues to trade steadily above recent lows, while Qubic’s reputation and token value have both taken a hit. For privacy coin advocates, the saga serves as a reminder that network decentralization remains Monero’s strongest defense against centralization risks.

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