Qubic Turns Community Focus Toward Dogecoin After Monero Episode

The artificial intelligence–focused blockchain project Qubic has drawn attention in the cryptocurrency industry after announcing it had carried out a 51% attack on Monero earlier this month. Now, only days later, the project’s community is turning its focus to Dogecoin, raising further discussion about the security of proof-of-work blockchains and the risks of concentrated mining power.

From Monero to Dogecoin

On August 11, Qubic announced it had taken majority control of Monero’s mining network. The development surprised many in the crypto industry, as Monero is one of the most recognized privacy-focused digital assets. Qubic explained that while Monero’s functions and privacy features remained unaffected, the long-term goal was for Qubic’s own miners to secure the protocol.

The move was significant enough for cryptocurrency exchange Kraken to respond. Kraken temporarily suspended Monero deposits, citing concerns over network integrity. Trading and withdrawals continued as normal, but deposits were paused until the exchange could determine the network was safe again.

Dogecoin Chosen as Next Priority in Qubic Community Poll

Only a few days later, on August 17, Qubic announced on X that Dogecoin had become the next area of focus for the community. The group said that discussions around Dogecoin were underway and that any preparation would require time. According to the project, this stage of activity is tied to examining the resilience of proof-of-work systems and exploring whether new approaches can strengthen them.

This announcement followed a vote initiated by Sergey Ivancheglo, the founder of Qubic. He asked community members to select which ASIC-supported proof-of-work blockchain should be prioritized. The list included Kaspa, Zcash, and Dogecoin. In the end, Dogecoin won overwhelming support, putting the widely recognized memecoin at the center of Qubic’s plans.

The outcome of the vote quickly attracted speculation about whether Dogecoin could experience a similar situation to Monero. However, both Ivancheglo and Qubic moved to provide clarification. Ivancheglo stated that the vote was specifically about mining Dogecoin rather than carrying out an attack. Qubic also responded to questions directly, stressing that it was not attacking any project. 

Instead, the group explained that the effort was focused on testing theoretical concepts and creating opportunities for miners to increase profits.

Market Movement Adds Weight to Security Discussions

Even with these reassurances, the market reacted. Dogecoin’s price dropped more than 5% in the 24 hours following the announcement, at a time when its overall market capitalization remained above $33 billion. 

Although the broader crypto market was already facing declines, the focus on Dogecoin from Qubic’s community appeared to intensify pressure, and some traders chose to sell in response.

The situation has raised fresh debate about the strength of proof-of-work networks. The Monero case demonstrated that even well-established projects can be vulnerable when one entity is able to gather enough mining power to dominate the chain. With Dogecoin now identified as a new area of interest, attention has shifted to whether other blockchains could face similar scenarios.