A recent successful attack on the Monero cryptocurrency, executed by Qubic led by ex-IOTA co-founder Sergey Ivancheglo, has sent ripples through the crypto market. This audacious move involved using $75 million to temporarily control over half of the network’s hash rate, impacting markets and raising concerns about future threats. Qubic intends to target Dogecoin next, following this significant precedent. 51% attacks have been a recurring vulnerability in different blockchains, with similar incidents causing drops in value for Ethereum Classic and Bitcoin Gold. This event has prompted heightened security measures within the Monero community and triggered discussions on improving its Proof-of-Work (PoW) protocol. Market reactions were immediate, including Kraken delaying Monero deposits with a 720-block confirmation delay. Following Qubic’s attack, market capitalization of Monero dropped by 16% last week, while the cryptocurrency currently trades at $269.20 USD. The event is also sparking calls for regulatory changes and increased security measures to protect privacy coins like Monero and Dogecoin from similar attacks in the future.