Kraken Blocks Monero Deposits | Users Question Mining Control Claims
As of August 15, 2025, Kraken paused Monero (XMR) deposits amid alarming reports of a mining pool exceeding 50% control over the network's hashing power. This interruption raises significant concerns about potential threats to network integrity and user trust.
Context of the Decision
Kraken's suspension of deposits reflects worries surrounding a single mining pool's dominance. Over half the hashing power could lead to serious vulnerabilities, including a possible "51% attack." Even as deposits are halted, Monero's trading and withdrawal services remain unaffected.
User Sentiment and Concerns
Community reactions vary widely, with users expressing both skepticism and unease:
Some users challenged Kraken's claims, asserting that the mining pool in question, Qubic, reportedly controls only 31% of the total hashing power, not the over 50% stated by Kraken. "This is false, and trading should resume," one comment noted.
Another community member warned, "Even if Qubic isn’t harmful, it shows how easily a state actor could exploit this situation."
Users are also critiquing Kraken for spreading fear, uncertainty, and doubt (FUD), pointing out low orphan rates that indicate network stability. "Qubic's claimed hashrate doesn’t affect their block production," asserted one informed voice.
Key Quotes from Users
"Anything above 5% orphaned blocks is a red flag; we should observe that closely."
"If Qubic is trying to take over, they haven’t succeeded yet."
Analysis of Current Developments
With divergent opinions circulating on forums, the tension surrounding Monero's mining choices highlights a significant concern in the crypto community: the centralization of mining power. While uncertainty looms, many believe that clarity from Monero's team is essential to alleviate fears and stabilize the situation.
Key Takeaways
⚠️ Kraken paused XMR deposits due to mining pool control concerns
🔍 Users dispute mining statistics, indicating Qubic's hashrate at only 31%
📉 Trading and withdrawals remain operational, community divided on network security
🔑 "They haven’t broken the network." – An informed user in the forums
As users await further developments, the crypto community remains vigilant. How will Monero's development team respond? The path ahead will likely depend on their actions regarding mining centralization and the trust of their users.