Monero Blockchain experienced a reorganization of 18 blocks on Sunday, the deepest to date, which effectively invalidated 118 confirmed transactions by going back 36 minutes of transaction history.
The Reorg began at the height of the 3,499,659 block when Qubic, a layer of layer 1 centered on AI less known, unleashed a longer chain than the monero network nodes accepted, orphan of the blocks previously confirmed from the other chain.
The measure is the last escalation in a Qubic campaign, which last month acquired more than half of Monero’s mining power. Qubic takes advantage of a “useful work” (UPOW) Model that reuses the XMR mining rewards and converts them into USDT, which is then used to buy and burn Qubic tokens.
Despite the reversal, the price of XMR challenged expectations, rising to a maximum of two months of $ 333 after the attack, before seeing a slight fall to $ 307.5 at the time of writing. The cryptocurrency has still increased more than 6.4% in the last 24 hours, while its daily negotiation volume increased 78% to $ 136 million.
“Personally, I do not consider reliable in the Monero network at this time,” said Vini Barbosa, a cryptographic commentator at X, and added that he would stop accepting XMR payments until the problem is solved.
“In the last 720 blocks (~ 24h)213 blocks have been orphans (114 produced by known pools and 99 produced by unknown groups or solo miners). That is 29.5% of all blocks, “Vini added.” This is too much. “
The attack can force the Monero community to make difficult decisions. A proposed solution implies the use of DNS control points, confidence snapshots of the block chain, to counteract future reorganizations.
Critics argue that this would compromise the decentralization of the network. In Github, the cryptographic researcher Rucknium said that the temporary deployment of the DNS control points is very likely.
