In the field of Crypto Assets, dramatic events are constantly emerging. Recently, the Privacy Coin Monero has become the new focus. This is not a sudden incident, but a carefully planned Computing Power confrontation. The attacking party announced their intentions publicly a month ago, claiming they would challenge the Monero network from August 2 to 31.

The attackers' goal is shocking: they are trying to control 51% of the Computing Power of a Privacy Coin network valued at over $5 billion. Today, the attackers claim to have achieved this goal, sparking widespread attention and discussion within the entire Crypto Assets community.

The original intention of Monero's design is to achieve a fairer and more decentralized network by not supporting dedicated mining machines (ASICs) and only allowing ordinary computer CPUs or GPUs to participate in mining. This design is meant to prevent large mining pools from monopolizing Computing Power, allowing anyone to participate in the mining process.

However, this seemingly fair mechanism has exposed potential security vulnerabilities. Attackers exploited this characteristic by mobilizing a large number of ordinary servers, such as cloud computing resources, idle PCs, and miner computers, to concentrate Computing Power within a short period. Although this method has theoretically existed for a long time, this incident marks the first time someone has put it into practice and claimed success.

This incident not only challenged the network security of Monero but also raised concerns about the security of other Crypto Assets that employ similar mechanisms. It highlights the difficulty of ensuring network security while pursuing decentralization and fairness.

As the situation develops, the crypto assets community is closely monitoring the potential impacts of this event. This is not only related to the future of Monero but may also affect the entire cryptocurrency industry's rethinking of privacy protection and cybersecurity strategies.