Monero’s cryptocurrency (XMR) price experienced a significant drop of over 10% in the past 24 hours, following unconfirmed claims of a 51% attack on its blockchain network. These allegations have been circulating online and have sparked concern within the crypto community. While some figures like Sergey Ivancheglo, founder of Qubic, and Charles Guillemet, CTO of Ledger, have raised concerns about the potential attack on Twitter, official confirmations from Monero’s core team or major exchanges remain scarce. This has left investors uncertain regarding the exact implications for security and market stability. 51% attacks are a significant threat to cryptocurrencies as they can potentially control and manipulate transactions on a blockchain network. Exchanges have yet to officially acknowledge or confirm the attack, leading to increased uncertainty within the community. The lack of concrete information has triggered a wave of discussions about potential risks and the need for more transparent verification processes. Monero’s future is in question as the debate over risk mitigation intensifies within the cryptocurrency community. Past incidents involving similar PoW networks, like Ethereum Classic and Bitcoin Gold, have led to greater scrutiny from exchanges regarding confirmation requirements after such allegations emerged. The market will be closely watching for updates and confirmations from official Monero sources to gauge the true extent of the impact.