Monero Blockchain Reorganization Invalidates 118 Transactions, Price Surges

Monero's blockchain faced an 18-block reorganization, which nullified 118 confirmed transactions by reversing 36 minutes of transaction history.
The reorganization occurred at block height 3,499,659 when Qubic, an AI-focused layer-1 blockchain, introduced a longer chain that was accepted by Monero’s network nodes.
Qubic had previously gained control of more than half of Monero’s mining power and uses a "useful proof-of-work" model to convert XMR rewards into [USDT](https://holder.io/coins/usdt/).
Despite the rollback, [XMR](https://holder.io/coins/xmr/) reached a two-month high of $333 before falling to $307.5, marking a 6.4% increase in 24 hours with trading volume up 78% to $136 million.
Crypto commentator Vini Barbosa expressed concerns about the reliability of the Monero network, highlighting that 29.5% of blocks were orphaned in the last 24 hours.
The Monero community may need to consider using DNS checkpoints as a countermeasure against future reorganizations, though this could impact decentralization.