Key Takeaways
- Kraken has halted Monero deposits after a single mining pool seized greater than 50% of the community’s hash price.
- XMR final traded close to $257, down about 6% over the previous week.
Share this text
Kraken has suspended Monero (XMR) deposits after detecting {that a} mining pool had gained management of greater than half of the community’s whole hashrate, elevating considerations about centralization and community safety, in line with its standing web page.
Kraken is actively monitoring the state of affairs and can resume deposits as soon as it determines situations are secure. Buying and selling and withdrawals for Monero stay totally operational on the platform.
The pause got here after Qubic mining pool, led by IOTA co-founder Sergey Ivancheglo, claimed to have achieved management over 51% of Monero’s hashrate, which may theoretically allow block reorganization, transaction censorship, or double-spending assaults.
Ivancheglo stated in an announcement that the transfer was meant to reveal vulnerabilities and put together the Monero neighborhood for future threats.
Appears like #Qubic has achieved 51% over #Monero, we’re ready for impartial confirmations. In the intervening time #Monero crew is sprucing particulars of their 51% assault safety.
Many accused us of being sponsored by 3-letter companies to assault this anon coin. What do you assume…— Come-from-Past (@c___f___b) August 12, 2025
XMR fell earlier this week following the reported assault. The token was buying and selling close to $257 on the time of writing, down roughly 6% over the previous week, per TradingView.
Share this text