After Monero, Qubic Chooses Dogecoin as Next 51% Attack Target

The Qubic community shocked by choosing Dogecoin as the next target after the 51% attack on Monero.

In the past week, the Qubic blockchain project - focused on artificial intelligence (AI) - has shaken the cryptocurrency community by successfully launching a 51% attack on the Monero (XMR) network. Immediately after that, the Qubic community voted and chose Dogecoin (DOGE) as the next target, raising concerns about the security of Proof-of-Work (PoW) based blockchains.

A 51% Attack is a form of attack on a blockchain network using the Proof-of-Work (PoW) mechanism. This occurs when a group or individual controls more than 50% of the total computing power (hashrate) of the entire network. By controlling most of the mining power, the attacker can block, reverse transactions, or even reuse a coin for multiple different transactions.

Qubic Chooses Dogecoin as the New "Target"

Qubic's founder, Sergey Ivancheglo (also known by the nickname "Come-from-Beyond"), organized a community poll to choose the next target for the attack strategy. The options included Dogecoin, Kaspa (KAS), and Zcash (ZEC).

The results showed that Dogecoin received over 300 votes, far exceeding the total votes for the other competitors. With a market capitalization of over $35 billion, DOGE is among the most popular cryptocurrencies, often seen as a "meme coin" but with significant influence, especially due to long-term support from the community and famous personalities.

Qubic Successfully Controls Monero's Hashrate

Previously, Qubic surprised investors by announcing a 51% attack on the Monero network, one of the most secure and anonymous blockchains today.

According to the development team, Qubic successfully reorganized 6 consecutive blocks after a hashrate battle lasting nearly a month with other Monero miners. Currently, Qubic's mining pool reaches a capacity of about 2.32 GH/s, according to data from MiningPoolStats. However, Qubic affirms this was only a technical demonstration to test the network's security strength, not a destructive act.

This event caused the Kraken exchange to temporarily suspend Monero deposits, citing "risks to network integrity" when a mining group takes control. However, Kraken still allows XMR withdrawals and trading, and stated they will restore deposit functions when safe.

Concerns About a New Wave of Attacks in the AI Era

Qubic - a project closely linked to AI - successfully attacking Monero and preparing to target Dogecoin has raised the question: Are PoW blockchains still safe in the era of rapidly developing AI computing?

With projects like Qubic possessing enormous computing power, the risk of threatening many other networks is entirely possible. Analysts believe that if Dogecoin - one of the most popular cryptocurrencies - is also "broken" by Qubic through a 51% attack, confidence in the security mechanisms of PoW cryptocurrencies could be severely shaken.