Kraken Halts Monero Deposits Following 51% Attack

Kraken has temporarily halted Monero (XMR) deposits following a significant 51% attack by the Qubic mining pool, causing a chain reorganization on the Monero blockchain. The exchange took this precautionary measure to address potential security risks stemming from the concentrated hashing power of the mining pool. Kraken confirmed that trading and withdrawals for XMR remain unaffected. CEO Dave Ripley explained the decision as necessary due to the potential for network disruption. He emphasized that the suspension is a security precaution, not a reflection on the overall stability of the cryptocurrency market.