September 17th• 3 min read
Monero Suffers Largest-Ever 18-Block Reorganization, XMR Rallies 7%
Monero experienced its deepest blockchain reorganization in 12 years on Sept 14, with 18 blocks rolled back and 118 transactions invalidated. Despite security concerns, XMR price surged over 7% to $308.
Key takeaways
🚨 Historic Reorg: Monero suffered its largest-ever 18-block reorganization, invalidating 118 transactions over 36 minutes.
⛏️ Qubic Control: Mining pool Qubic, linked to IOTA co-founder Sergey Ivancheglo, controlled over 51% of Monero's hashrate.
📈 Price Resilience: Despite network concerns, XMR rallied 7.4% from $287 to $308, showing market confidence.
🔒 Security Debate: Community discusses implementing DNS checkpoints and other measures to prevent future reorganizations.
⚠️ Exchange Impact: Some exchanges increased confirmation requirements, with users advised to wait 20+ confirmations.
Deep dive
This unprecedented event highlights the ongoing tension between Monero's decentralized mining and external economic pressures.
Qubic's 'useful proof-of-work' strategy repurposes XMR mining rewards to buy and burn its own tokens, creating superior economic incentives that attracted over 51% of the network's hashrate.
While no funds were stolen and no confirmed double-spends occurred, the incident exposed potential vulnerabilities in Monero's security model.
The market's positive response suggests traders view this as a solvable governance issue rather than a fundamental security failure.
However, the high orphan rate of 29.5% in the 24 hours following the event indicates ongoing network instability that could affect transaction finality.
Polaris insights AI-generated
Disclaimer: This article may contain content generated or assisted by AI, based on information from public sources. While we aim for accuracy, no content should be taken as financial or trading advice. Always do your own research and consult a professional before making investment decisions. Markets are volatile and involve risk.
