{"id":15136,"date":"2025-08-18T03:52:29","date_gmt":"2025-08-18T01:52:29","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=15136"},"modified":"2025-08-18T03:52:29","modified_gmt":"2025-08-18T01:52:29","slug":"kraken-halts-xmr-deposits-amid-security-concerns","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/08\/18\/kraken-halts-xmr-deposits-amid-security-concerns\/","title":{"rendered":"Kraken Halts XMR Deposits Amid Security Concerns"},"content":{"rendered":"<p> &#8220;`html<br \/>\n<\/p>\n<div>\n<div class=\"trusted-editorial-content trusted-editorial-content--top\">\n<div class=\"trusted-editorial-content__text\"><u>Trusted Editorial<\/u> material, evaluated by top industry professionals and experienced editors. <a href=\"#\" target=\"_blank\">Ad Disclosure<\/a><\/div>\n<\/p><\/div>\n<p><span style=\"font-weight: 400;\">Crypto exchange <a href=\"https:\/\/bitcoinist.com\/crypto-giant-kraken-plans-initial-public-offering\/\" target=\"_blank\" rel=\"noopener \">Kraken has revealed<\/a> a temporary halt on Monero (XMR) token deposits within its platform. This action is a reaction to the ongoing 51% assault on the Monero blockchain, a decentralized protocol focused on privacy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For clarification, a 51% attack denotes a scenario in which a coalition of miners achieves control of over 50% of a blockchain\u2019s mining hash rate. On Tuesday, August 12, Qubic, a venture led by IOTA co-founder Sergey Ivancheglo, asserted that it has acquired dominance over the majority of the Monero blockchain\u2019s hash rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the Qubic mining pool, the 51% attack was carried out using a useful proof-of-work (uPoW or UPoW) method. As <a href=\"https:\/\/bitcoinist.com\/monero-blockchain-at-risk\/\" target=\"_blank\" rel=\"noopener \">reported by Bitcoinist<\/a>, the Qubic team is seizing half of the mining profits in XMR, converting them into USDT to purchase QUBIC tokens, and subsequently directing them to a burn address.<\/span><\/p>\n<h2><b>What Led Kraken to Halt Monero Deposits On Its Platform?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">In an August 15 update on its site, Kraken <a href=\"https:\/\/status.kraken.com\/\" target=\"_blank\" rel=\"noopener nofollow\">announced<\/a> that it is temporarily suspending the deposit of Monero tokens on its trading platform after uncovering that a single mining pool has commandeered over half of the blockchain\u2019s aggregated hashing capability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The cryptocurrency exchange stated:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">This concentration of mining authority presents a potential hazard to network integrity. We are diligently monitoring the scenario and will reinstate deposits once we ascertain it is secure to do so. Trading and withdrawals for XMR remain fully functional.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Following Qubic\u2019s assertion, emerging reports on the social media platform X indicated that a six-block reorganization had indeed occurred on the Monero blockchain, implying that the team possesses control over a substantial portion of the hash rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Kraken pointed out, it is crucial to acknowledge that Qubic\u2019s acquisition and dominance over the majority of Monero\u2019s total hashing power could be remarkably damaging to the decentralized principle of blockchain technology. As it currently stands\u2014with Qubic <a href=\"https:\/\/www.investopedia.com\/terms\/1\/51-attack.asp\" target=\"_blank\" rel=\"noopener nofollow\">controlling 51% of the hash rate<\/a>, the network faces threats of transaction censorship, double spending, and block reorganizations, jeopardizing the blockchain\u2019s integrity.<\/span><\/p>\n<h2><b>XMR Price Summary<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The response of the XMR price to these allegations regarding a 51% attack on the Monero blockchain has been relatively restrained. Although the altcoin experienced a loss exceeding 10% of its value immediately following the news and an additional 5% in the days that followed, the Monero token appears to be rebounding nicely.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the Monero token is estimated at around $265, demonstrating nearly a 12% increase in the past 24 hours. Meanwhile, CoinGecko statistics reveal that the altcoin is down by only 4% on the weekly scale.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/FKCaL5sV\/\" alt=\"Monero\" width=\"2250\" height=\"1484\"\/><\/p>\n<pre style=\"text-align: center;\">The price of XMR on the daily timeframe | Source: XMRUSDT chart on <a href=\"https:\/\/www.tradingview.com\/x\/FKCaL5sV\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>Featured image from iStock, chart from TradingView<\/p>\n<div class=\"trusted-editorial-content trusted-editorial-content--bottom\">\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2025\/02\/safe.png\" class=\"trusted-editorial-content__icon\"\/><\/p>\n<p><strong>Editorial Process<\/strong> for bitcoinist is centered on providing thoroughly researched, precise, and impartial material. We adhere to strict sourcing standards, and each page undergoes meticulous review by our team of leading technology experts and seasoned editors. This process guarantees the integrity, relevance, and value of our content for our audience.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/bitcoinist.com\/monero-51-attack-kraken-suspends-xmr-deposits\/\">Source link <\/a><br \/>\n&#8220;`<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;`html Trusted Editorial material, evaluated by top industry professionals and experienced editors. Ad Disclosure Crypto exchange Kraken has revealed a temporary halt on Monero (XMR) token deposits within its platform. This action is a reaction to the ongoing 51% assault on the Monero blockchain, a decentralized protocol focused on privacy. For clarification, a 51% attack<\/p>\n","protected":false},"author":3,"featured_media":15137,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[3339],"class_list":["post-15136","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-monero-attack-kraken-suspends-xmr-deposits-until-it-is-safe-gpt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kraken Halts XMR Deposits Amid Security Concerns - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/08\/18\/kraken-halts-xmr-deposits-amid-security-concerns\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kraken Halts XMR Deposits Amid Security Concerns - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"&#8220;`html Trusted Editorial material, evaluated by top industry professionals and experienced editors. 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