Qubic Plans 51% Attack on Dogecoin After Monero Takeover
Qubic, the AI-focused blockchain project that executed a 51% takeover of Monero last week, has voted to target Dogecoin next. The community chose Dogecoin over Kaspa and Zcash with more than 300 votes. The Monero attack, which reorganized six blocks by amassing 2.32 GH/s of hashrate, highlighted the vulnerability of proof-of-work networks and prompted Kraken to halt Monero deposits temporarily. Dogecoin’s $33 billion market cap and mainstream profile make it a high-impact target, raising fresh concerns about large PoW chains’ resilience and decentralization.
Separately, the US Justice Department seized $2.8 million in crypto and other assets linked to alleged ransomware operator Ianis Antropenko. The operation included warrants for funds laundered through the now-shut ChipMixer service, plus $70,000 in cash and a luxury vehicle. This seizure feeds into a growing federal crypto reserve—now about 198,012 BTC—established under a national crypto stockpile initiative. Traders should watch for heightened network security debates and potential volatility in Dogecoin, along with broader market reactions to ongoing government asset accumulations.
Bearish
Qubic’s announcement of a potential 51% attack on Dogecoin severely undermines confidence in one of the largest PoW networks. Historical parallels—such as the Ethereum Classic attack—triggered immediate price dips and heightened volatility. The Monero takeover already exposed systemic vulnerabilities, and a repeat on Dogecoin could spark sell-offs and network distrust. While US DOJ seizures and a growing government Bitcoin reserve may support long-term scarcity, the overriding threat to Dogecoin’s security suggests bearish sentiment in both the short and medium term.