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Crypto exchange Kraken has temporarily paused Monero (XMR) deposits due to the ongoing 51% attack against the privacy-focused blockchain, which has compromised the security of the network.
A 51% attack occurs when one mining pool controls more than 50% of a blockchain network’s total hashing power, giving it the ability to double-spend and reorder transactions on the ledger. The Kraken exchange wrote on Friday:
“As a security precaution, we have paused Monero deposits after detecting that a single mining pool has gained more than 50% of the…
