Since May 2025, @_Qubic_, led by a former co-founder of $IOTA, has been attempting to control 51% of
#Monero# ’s hashrate through its uPoW mechanism.
The operation?
Mining $XMR, using the earnings to buy and burn $QUBIC tokens, presented as a mere “resilience test.”
But on the Monero side, alarms have been raised:
Risk of centralization,
Fear of an attack on the network,
Heated debate over the security of PoW blockchains.
In response, miners have been migrating en masse to more decentralized pools like SupportXMR.
Result:
Qubic’s share of the hashrate dropped from 40% at the end of July to abou