Monero’s Privacy Under Fire: A 51% Attack and the Fragility of Decentralization

Monero, long lauded for its anonymity, was shaken in 2025 by a 51% attack that exposed the vulnerabilities of decentralization. Driven by economic incentives, Qubic, led by Sergey Ivancheglo, co-founder of IOTA and NXT, offered miners triple mining rewards. This unprecedented move drew support from some, while others saw it as an unethical act. The result? A temporary disruption in Monero’s network that demonstrated the thin veneer of decentralization often touted by blockchain projects.