Key takeout
- Kraken stopped the Monero deposits after a single mining pool seized greater than 50% of the community’s hashrate.
- XMR final traded almost $257, down about 6% final week.
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Kraken has stopped Monero (XMR) deposits after detecting that the mining pool managed greater than half the entire hashrate of the community, inflicting considerations about centralization and community safety. Status Page.
Kraken is actively monitoring the state of affairs and can resume deposits if the circumstances are secure. Monero’s buying and selling and withdrawals stay totally operational on the platform.
The suspension argued that it may theoretically permit block reorganization, commerce censorship, or double spending assaults after claiming that the Qubic Mining Pool, led by IOTA co-founder Sergey Ivancheglo, managed 51% of Monero’s hashrate.
In a press release, Ivancheglo mentioned the transfer was meant to reveal the vulnerability and put together the Monero neighborhood for future threats.
It appears like #Qubic Achieved over 51% #moneroawaiting an unbiased affirmation. Within the meantime #monero The crew is honing the main points of 51% offensive safety.
Many accused this anoncoin of sponsoring a three-letter company. What do you assume…– Past-from-fyond (@c___f___b) August 12, 2025
The XMR fell earlier this week after the reported assault. The token was buying and selling at almost $257 on the time of writing. Every TradingView.
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