Key Takeaways:
- Kraken paused Monero (XMR) deposits after mining pool Qubic gained over 50% of the network’s hashing power, raising 51% attack concerns.
- Qubic claims it reorganized six blocks after a month-long struggle, sparking backlash from the Monero community.
- Despite a DDoS setback, Qubic reasserted control, intensifying debate over Monero’s mining decentralization and security.
Kraken has suspended Monero (XMR) deposits after detecting that a single mining pool had temporarily gained control of more than half of the network’s total hashing power.
The move comes as a security precaution, with the exchange confirming that trading and withdrawals remain unaffected.
A 51% attack on Monero has raised concerns over network security, prompting crypto exchange Kraken to suspend Monero deposits as a precautionary measure. Withdrawals and trading remain available, and deposits will be resumed once the network is confirmed to be secure.…
— Wu Blockchain (@WuBlockchain) August 17, 2025
Kraken stated, “As a security precaution, we have paused Monero deposits after detecting that a single mining pool has gained more than 50% of the network’s total hashing power.
This concentration of mining power poses a potential risk to network integrity.”
The mining pool in question, Qubic, claimed earlier this week that it reached 51% dominance and reorganized several blocks on the Monero blockchain.
However, its control has since fallen to around 35%, easing immediate concerns over a prolonged 51% attack.
Qubic described the incident as a “stress test” designed to highlight vulnerabilities in proof-of-work networks, though Monero developers have disputed the severity of the event.
Despite the turmoil, Monero’s price climbed by more than 7%, breaking above $260.
Kraken said deposits will resume once it determines the network is stable and safe for users.
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