Moneros Blockchain experienced an 18-block reorganization on Sunday, its deepest to date, effectively invalid 118 confirmed transactions by rolling back 36 minutes of transaction history.
Reorg began at block height 3,499,659, when Qubic, a lesser-known AI-focused LAG-1 blockchain, released a longer chain that Monero’s network nodes accepted, and orphans with the other chain’s previously confirmed blocks.
The move is the latest escalation in a campaign of QUBIC that last month acquired more than half of Monero’s mining. QUBIC utilizes a “useful proof-of-work” (Upow) Model that recycles the XMR Mining Rewards and converts them to USDT, which is then used to buy back and burn Qubic tokens.
Despite the Rollback, XMR’s award traced expectations and climbed to a two-month height of $ 333 after the attack before watching a slight fall to $ 307.5 at the time of writing. Cryptocurrency is still more than 6.4% over the past 24 hours, while its daily trading volume jumped 78% to $ 136 million.
“Personally, I do not consider the Monero network reliably at this time,” said Vini Barbosa, a cryptocommenter of X, adding that he would stop accepting XMR payments until the problem is resolved.
“In the last 720 blocks (~ 24 hours)213 blocks have become orphans (114 produced by known pools and 99 produced by unknown pools or solo -mine workers). It’s 29.5% of all blocks, “Vini added.” This is just too much. “
The attack can force the Monero community to make difficult decisions. A suggested solution involves the use of DNS control points, trusted snapshots of blockchain, to counteract future reorganizations.
Critics claim that this would compromise the network’s decentralization. At GitHub, crypto scientist Rucknium pointed out that the temporary roll -out of DNS control points will be very likely to be deployed soon.
