Kraken Temporarily Halts Monero Deposits After Monday’s 51% Attack

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…