In the rapid development of Crypto Assets, some projects that were once highly regarded have gradually faded from public view. Monero is such an example. As a "veteran" project that was born in 2014, it neither promises high returns like Decentralized Finance (DeFi) nor can it quickly spark social media trends like NFTs or meme coins. For many years, Monero has quietly focused on its original intention - to build a truly anonymous and untraceable Digital Money system. Its development does not seek quick success, but is committed to continuously improving privacy technology and enhancing network stability.

However, this persistence has also put the entire privacy coin sector in a dangerous situation. With global regulations becoming increasingly stringent, privacy coins have become a major "thorn in the side" of compliance. Many mainstream trading platforms have removed privacy coins to avoid potential legal risks. On the surface, the main challenge facing privacy coins comes from external pressure from regulatory agencies. But unexpectedly, a more destructive crisis has actually originated from within the cryptocurrency world, directly threatening the most representative projects in this sector.

On August 12, 2025, the emerging blockchain project Qubic released a brief yet significant statement on social media: "The Monero (XMR) experiment is progressing smoothly as planned, and all details will be announced at the appropriate time." This news came as a bolt from the blue, suggesting that Monero is undergoing a severe network hashing power crisis that could threaten its survival.

This event has sparked widespread discussion in the Crypto Assets community. Some observers believe it may signal new challenges facing privacy coin technology, or reflect fierce competition within the Crypto Assets ecosystem. Others are concerned that if established privacy coin projects like Monero face significant setbacks, it could have a profound impact on the development of privacy protection technology as a whole.

In any case, this event once again highlights the complexity and uncertainty of the crypto assets world. It reminds us that in this rapidly evolving field, even seemingly solid projects may face unexpected challenges. For the future development of crypto assets, especially the evolution of privacy protection technologies, we need to maintain close attention and deep thinking.