Ravencoin Falls to Record Low After Consensus Vulnerability Exploit

Ravencoin fell to a record low after an exploit of a network consensus vulnerability.

Cointelegraph reported on August 11 that RVN dropped to as low as $0.002754 during the session, an all-time low. That was about 22% below its 24-hour high of $0.003529, according to CoinGecko. Trading volume topped $18 million during the selloff before falling to about $9.6 million. The token later pared some losses and was trading around $0.00284 as of publication.

Ravencoin said on its official channels the previous day that the exploit caused vulnerable nodes to accept invalid blocks. The issue first emerged at block height 4,487,776. Similar invalid blocks were created after the flaw was reproduced on the mainnet.

Mining pools 2Miners and RavenMiner, which control most of the network's hash rate, are building a separate competing chain that excludes the segment after the problematic block. If that chain gains control, it could trigger a chain reorganization covering about three days of blocks. Transactions confirmed after block 4,487,775 could be reversed. Ravencoin added that those transactions may not automatically return to the mempool or be mined again.

Ravencoin urged exchanges to suspend deposits and withdrawals until the chain stabilizes. Upbit and Bitget have halted RVN deposits and withdrawals, while Upbit is continuing to allow trading.