Key Takeaways

• Monero suffered a suspected economic attack from a Qubic protocol supporter trying to destabilize XMR.
• Community members, miners, and developers acted quickly to counteract the attacker’s efforts.
• The attacker spent over $1 million in what was ultimately an unsuccessful attempt to pump XQG.

The Monero community faced a strong challenge last week after an attempted economic attack by a supporter of the Qubic protocol.

The alleged attacker spent over $1 million trying to manipulate the market and divert attention and hash power from Monero’s secure chain.

This event started when large quantities of Monero were sold, driving down the price. The same wallets were linked to large purchases of XQG, the token behind Qubic, a lesser-known crypto project.

This led many to believe the attack was designed to weaken Monero while pumping XQG’s price.

Community Mobilization

Monero’s open-source contributors, developers, and miners quickly responded. The network adjusted hash rate allocations, developers raised community awareness, and market watchers flagged suspicious transactions.

Despite the attacker’s deep pockets, Monero’s infrastructure held steady. The network remained functional and secure, with no evidence of consensus disruption or vulnerability.

What is Qubic and XQG?

Qubic is a protocol built on IOTA’s architecture, with XQG as its token. It aims to become a distributed computation and oracle system. Its token, however, has faced heavy skepticism and lacks major exchange listings.

The Monero community’s swift investigation revealed the attacker may have tried to exploit low liquidity markets and social media hype to artificially boost XQG’s price by targeting a respected crypto like Monero.

Conclusion:

This incident highlights the strength of decentralized communities and their ability to withstand and counteract malicious intent. While the crypto industry often celebrates tech upgrades and token launches, Monero’s recent experience shows that coordinated community defense is equally essential to network resilience.

Frequently Asked Questions

What was the Monero Qubic attack about?
A Qubic supporter allegedly sold large amounts of Monero to weaken its market position and redirect funds to pump XQG.

Was Monero’s network compromised?
No. The network remained stable and secure, thanks to rapid community response and strong protocol design.

Who is behind Qubic and XQG?
Qubic is based on IOTA concepts, but the identity of key promoters remains unclear and controversial.