Monero (XMR) Emerges Top Gainer as Miners Reverse Qubic’s 51% Attack and Kraken Restriction
The post Monero (XMR) Emerges Top Gainer as Miners Reverse Qubic’s 51% Attack and Kraken Restriction appeared on BitcoinEthereumNews.com. Key Notes Monero (XMR) price gained 7% on Sunday, Aug 17, rebounding above $260 after Qubic’s failed 51% attack. Kraken’s suspension of XMR deposits triggered a panic-driven 19% sell-off earlier in the week, but the network remained operational and secure. Community response over the weekend has strengthened Monero’s decentralization, improving hashrate distribution. Behind Chainlink’s (LINK) 14% weekend rally, Monero emerged as the second-best performer among the top 30 ranked cryptocurrencies, gaining 7% intraday on Sunday, Aug 17, to cross the $260 mark. This recovery follows a major network controversy, which saw XMR price plunge nearly 19% between Aug 12 and Aug 15, after centralized exchange Kraken halted Monero deposits in response to social media claims of a network takeover. Monero appears to be in the midst of a successful 51% attack. The privacy-focused blockchain, launched in 2014 and long targeted by governments and 3-letters agencies, is already banned from most major centralized exchanges. The Qubic mining pool has been amassing hashrate for… — Charles Guillemet (@P3b7_) August 12, 2025 The controversy began when mining firm Qubic was accused of executing a 51% attack on the Monero network, sparking centralization fears and prompting exchange panic. As the concerns eased over the weekend, community contributor Smart Degen, berated Kraken’s decision to suspend trading and deposits, hinting that it was based more on media panic than identified blockchain frailties.
The post Monero (XMR) Emerges Top Gainer as Miners Reverse Qubic’s 51% Attack and Kraken Restriction appeared on BitcoinEthereumNews.com.
Key Notes Monero (XMR) price gained 7% on Sunday, Aug 17, rebounding above $260 after Qubic’s failed 51% attack. Kraken’s suspension of XMR deposits triggered a panic-driven 19% sell-off earlier in the week, but the network remained operational and secure. Community response over the weekend has strengthened Monero’s decentralization, improving hashrate distribution. Behind Chainlink’s (LINK) 14% weekend rally, Monero emerged as the second-best performer among the top 30 ranked cryptocurrencies, gaining 7% intraday on Sunday, Aug 17, to cross the $260 mark. This recovery follows a major network controversy, which saw XMR price plunge nearly 19% between Aug 12 and Aug 15, after centralized exchange Kraken halted Monero deposits in response to social media claims of a network takeover. Monero appears to be in the midst of a successful 51% attack. The privacy-focused blockchain, launched in 2014 and long targeted by governments and 3-letters agencies, is already banned from most major centralized exchanges. The Qubic mining pool has been amassing hashrate for… — Charles Guillemet (@P3b7_) August 12, 2025 The controversy began when mining firm Qubic was accused of executing a 51% attack on the Monero network, sparking centralization fears and prompting exchange panic. As the concerns eased over the weekend, community contributor Smart Degen, berated Kraken’s decision to suspend trading and deposits, hinting that it was based more on media panic than identified blockchain frailties.
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