Monero suffers the deepest repair of the blockchain, which is not valid 118 transactions
Monero’s blockchain has experienced an 18-block repair on Sunday, the deepest to this day, that is effective Invalid 118 confirmed transactions by rotating 36 minutes of transaction history.
Reorg began at a block height of 3,499,659 when the Qubic, a more prominent AI-focus layer-1 blockchain, released a longer chain accepted by Monero network nodes, orphaned the previously confirmed chain blocks.
Moving is the latest increase in a Quubic campaign, which last month got more than half of Monero’s mining power. Quubic uses a “useful proof-of-work” (upow) Model repurposes the rewards of XMR mining and modified them to the USDT, which was used to buy back and burn quubic tokens.
Despite the rollingback, the price of XMR disobeyed expectations, climbing a two-month high $ 333 after the attack, before seeing a slight collapse at $ 307.5 at the time of writing. Cryptocurrency is still more than 6.4% in the last 24 hours, while its daily trading volume jumped 78% to $ 136 million.
“Personally, I’m not considering the Monero Network that is reliable at this point,” Says Vini Barbosa, a crypto commentator in X, added that he would stop receiving XMR payments until the issue was resolved.
“In the last 720 blocks (~ 24h)213 blocks are orphaned (114 made by prominent pools and 99 made of unknown pools or solo miners). That’s 29.5% of all blocks, “Vini added.” It’s too much. “
Attack can force the Monero community to make difficult decisions. An suggested solution involves the use of DNS checkpoints, trusted blockchain snapshots, to prevent future repairs.
Critics argue that this will compromise network decentralization. In Github, crypto researcher Rucknium pointed out that temporary controlling DNS checkpoints is highly likely to be deployed.
