According to Odaily Planet Daily, Ledger CTO Charles Guillemet published an article on X stating that Monero appears to be undergoing a successful 51% attack. This privacy-focused blockchain, launched in 2014, has long been under attack from governments and law enforcement agencies worldwide and has been delisted from most major centralized exchanges.

The Qubic mining pool has been steadily accumulating hashing power for months and now controls a majority of the network's hashing power. This morning, a major chain reorganization was detected. With this advantage, Qubic can arbitrarily rewrite the blockchain, perform double-spend attacks, and censor any transaction.

Maintaining such an attack would cost approximately $75 million per day. While the potential gains are substantial, the trust foundation of the entire network would be destroyed almost overnight, and other miners would lose the incentive to continue mining because Qubic could easily isolate any competing blocks, effectively becoming the sole miner.

This is equivalent to a $300 million chain (Qubic) taking over a $6 billion chain (Monero). Monero's options are extremely limited, and a complete collapse is not only possible, but inevitable.