Qubic mining pool has executed a 51% attack on the Monero network, leading to significant concern within the cryptocurrency community. The attack resulted in a notable drop of approximately 8-8.6% for Monero’s price following the disruption of decentralization and market confidence. This event raised doubts about the long-term stability and security of blockchain networks relying on distributed power control. 51% attacks, which involve controlling over half of the network’s computational power, are not uncommon but pose a significant threat to the integrity and reliability of these systems. Qubic mining pool, controlled by Sergey Ivancheglo, claimed this act was intended as an economic demonstration rather than an attack on the Monero network itself. The high cost associated with sustaining such attacks at approximately $75 million daily is seen as economically unsustainable, though Qubics’ motivations remain unclear.