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Mining Pool Aggregates Computing Power Suspected of Achieving Monero 51% Attack, Raising Concerns About Decentralization
[Chain News] On August 12, Slow Fog founder Yu Xian stated that a certain Mining Pool has recently gathered a large amount of Computing Power through economic incentives, and is suspected of successfully executing a 51% Attack on the Monero network. The founder of this Mining Pool admitted that after controlling most of the Computing Power, they could rewrite the Blockchain, implement Double Spending, and review transactions. Although this Mining Pool claims this action is a technical demonstration, the Monero community has expressed concerns about the network's Decentralization and security, and has called for Miners to distribute Computing Power to drop risks. It has also been reported earlier that Monero is facing attempts of a network takeover initiated by a certain Mining Pool, which has sparked strong opposition from the community.