- Monero surged 7% despite a serious blockchain reorg.
- Qubic launched the 18-block reorg reversing 117 transactions.
- The community remains alert amid rising concerns.
Despite facing a significant network attack, privacy-focused cryptocurrency Monero (XMR) managed to rally over 7% in the last 24 hours. The unexpected spike came shortly after Monero endured an 18-block reorganization (reorg), a rare and potentially dangerous event for any blockchain .
According to blockchain analysts, the attack was launched by Qubic, a project known for aggressive on-chain experimentation. The attack led to a reversal of 117 confirmed transactions, creating temporary confusion within the Monero network.
What Happened in the Reorg Attack?
A blockchain reorganization happens when an alternative version of the blockchain becomes longer than the previously accepted one. In this case, Qubic orchestrated an 18-block reorg, which effectively replaced 18 blocks in Monero’s chain with new ones.
This caused 117 transactions that had been previously confirmed to be wiped from the chain and re-added in different positions—or potentially lost altogether. For privacy coins like Monero, which rely on stealth and ring signatures to protect user identities, such a reorg poses serious implications not only for security but also for trust.
Community Response and Market Reaction
Despite the technical setback, the Monero community quickly rallied to assess the damage and reassure users. Developers confirmed that while the attack was disruptive, it did not compromise the overall network integrity.
Interestingly, the market response was surprisingly bullish. Monero’s price climbed over 7%, suggesting either strong investor confidence or opportunistic buying during the network instability.
Analysts are divided: some view the price jump as a vote of confidence in Monero’s resilience, while others warn it may reflect the market’s tendency to overlook serious security events in favor of price speculation.
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