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The Qubic blockchain project community , has voted to make Dogecoin (DOGE) its next target after successfully executing a 51% attack on Monero (XMR) earlier this week.
Author: Sahil Thakur
The Qubic blockchain project, led by founder Sergey Ivancheglo (aka Come-from-Beyond), has voted to make Dogecoin (DOGE) its next target after successfully executing a 51% attack on Monero (XMR) earlier this week.
Qubic’s community poll asked members which ASIC-enabled, proof-of-work blockchain to attack next. The options included Dogecoin, Kaspa, and Zcash. Dogecoin received over 300 votes, more than all others combined, cementing it as Qubic’s next objective.
This comes just days after Qubic claimed hashrate dominance over Monero, reorganizing six blocks and forcing crypto exchange Kraken to temporarily suspend Monero deposits due to risks of network manipulation.
A 51% attack occurs when a single entity controls more than half of a blockchain’s computing power. With this control, attackers can:
While Qubic claims Monero’s “privacy, speed, and usability” remain intact, the successful takeover highlights vulnerabilities in proof-of-work blockchains where hashrate is concentrated.
With a market cap above $35 billion, Dogecoin is one of the largest proof-of-work cryptocurrencies. A successful attack could:
Analysts note this is not just about Dogecoin, but a broader reminder that proof-of-work networks must maintain decentralization to remain secure.
| Cryptocurrency | Date | Estimated Loss | Attack Description |
|---|---|---|---|
| Ethereum Classic (ETC) | Jan 2019, Aug 2020 | ~$6.7 million | Multiple attacks with deep chain reorganizations and double spends; over 100,000 blocks affected in 2020. |
| Bitcoin Gold (BTG) | May 2018, Jan 2020 | ~$18 million (2018), ~$70k (2020) | Double spends using rented hash power; attackers targeted exchanges. |
| Vertcoin (VTC) | Dec 2018 | ~$100,000+ | Over 300 blocks reorged; early example of successful attack on a small-cap coin. |
| Feathercoin, Terracoin, etc. | 2013 | Modest | Chain reorganizations due to low hash rate; disrupted network stability and trust. |
| Krypton & Shift | Aug 2016 | ~$65,000 | Ethereum-based coins hit with double spends via NiceHash-rented power. |
| Firo (Zcoin) | Jan 2021 | Undisclosed | 300+ blocks reorganized; attack mitigated via updates and chain defense. |
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