Kraken Halts Monero Deposits Amidst 51% Attack, Network Security Concerns Linger

Cryptocurrency exchange Kraken has temporarily suspended Monero deposits following a significant 51% attack that shook the privacy coin’s network. The move comes after Qubic mining pool gained control of over half the total hashing power, reorganizing six blocks and leaving nearly 60 blocks orphaned in the process. This manipulation can lead to blockchain rewriting, transaction blocking, or even double-spending. 51% attacks are a major security threat and Kraken has halted Monero deposits until network stability is restored.