Ravencoin dropped to an all-time low after an exploited consensus flaw put several days of transactions at risk of reversal. Mining pools are now building a competing chain to overwrite the affected blocks, and Upbit and Bitget have suspended RVN transfers until the network stabilizes.
Ravencoin fell to $0.002754 on Wednesday, an all-time low and about 22% below its 24-hour high of $0.003529, according to CoinGecko. Trading volume climbed above $18 million during the sell-off before easing back toward $9.6 million, and the token recovered slightly to around $0.00284.
Consensus flaw exposed days of transactions
The drop followed Ravencoin's disclosure that a consensus vulnerability had let vulnerable nodes accept invalid blocks, starting at block height 4,487,776 on Aug. 7. Ravencoin's official notice stated: "A critical consensus vulnerability has been demonstrated and exploited on the Ravencoin network."
Mining pools 2Miners and RavenMiner responded by building a competing chain from that block, excluding the invalid branch. Ravencoin said the two pools control a majority of the network's hash rate, giving their chain a chance of becoming dominant.
A possible three-day reorganization
If the competing chain overtakes the original, Ravencoin faces a reorganization covering roughly three days of activity, replacing a previously accepted sequence of blocks with one carrying more accumulated proof-of-work. Transactions confirmed after block 4,487,775 could disappear from the accepted chain, and Ravencoin warned they may not automatically return to the mempool or be mined again.
That risk led Upbit to suspend RVN deposits and withdrawals, though it kept trading open, while Bitget also stopped RVN transfers. Halting transfers limits the chance an exchange credits a deposit that later vanishes once the mining pools' replacement chain takes over. Ravencoin has not given a fixed timetable for when transfers might resume.
Second serious exploit for the network
The network faced a different flaw in July 2020, when attackers used a bug in the block reward logic to create 315 million RVN outside its intended issuance schedule, worth about $5.7 million at the time and roughly 1.5% of Ravencoin's 21 billion token cap. That incident involved unauthorized coin creation, while the current one concerns whether nodes accept blocks that comply with the network's consensus rules.
Wednesday's low also broke below levels seen as recently as July 9, when RVN traded around $0.003734 with a market cap of roughly $61 million after falling 12.88% over the preceding month. The token remains well below its February 2021 all-time high of $0.285218.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
