Monero’s 51% Striker Cubic to DOGE Target Next
The community has voted to make Dogecoin (DOGE), the AI-focused blockchain project Dogecoin (DOGE), the next target of Cubic, which has launched a 51% attack on Monero this week.
Kubic Network founder Sergey Ivancheglo asked the Kubic community which application-specific integrated circuit (ASIC)-enabled, proof-of-work blockchain the group should target in the next 51% attack, DOGE, Kaspa (KAS), and Zcash (ZEC).
“The Cubic community has chosen Dogecoin,” Ivancheglo, who came from the online wallet, wrote in a Sunday X post announcing the vote.
With a market cap of more than $35 billion, Dogecoin received more than 300 votes, more than any other network combined.
Cubic's 51% success rate against Monero, a privacy blockchain attack, has surprised the crypto community, and the AI-based network could have implications for another proof-of-work cryptocurrency targeting digital assets that rely on mining.
Related: Monero ‘Economic Attack' Receives Strong Community Backlash
Cubic has successfully achieved hashrate dominance on the Monero network
The Cubic Group announced on Monday that it has gained control of the majority of the computing power used to secure the Monero network.
The Cubic mining pool has successfully organized six blocks following a month-long battle with other Monero miners to control the network's hashrate.
According to Mining PoolStats, the Cubic mining pool commands a hash rate of 2.32 gigahash per second (GH/s) at the time of writing.
“The core functionality of the Monero network remains intact. Its privacy, speed and usability are not compromised,” Kubik's team wrote on Tuesday following the crackdown.
“However, the ultimate goal is for the security of the Monero protocol to be provided by Cubic miners,” the team continued.
Following the attack, the crypto exchange Kraken temporarily suspended Monero (XMR) deposits on its platform, citing the “potential risk to network integrity” if Monero was controlled by a single miner by 51%.
Despite the temporary hiatus on Monero deposits, the exchange is keeping XMR withdrawals and trading open, and has told users that XMR deposits will be returned to users once the exchange deems it “safe.”
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