Affected by the news of the 51% Attack on Monero coin, XMR fell over 10% in 24 hours.

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On August 12, according to CEX market data, affected by the news of Monero being subjected to a 51% attack, XMR fell over 10% in 24 hours, currently quoted at 246.61 USD. Earlier reports indicated that IOTA co-founder Sergey Ivancheglo's project Qubic rapidly accumulated a large amount of Monero computing power through the "useful proof of work (uPoW)" mechanism. On August 12, Qubic briefly controlled 52.72% of the Monero network's hashrate (approximately 3.01 GH/s). If it exceeds 51%, Qubic can reject blocks from other mining pools, leading to chain reorganization, double spending, or transaction review. The Monero community has initiated resistance and defense actions, while Qubic claims this move is a technical demonstration, not a malicious attack.

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