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Ravencoin crashes 20% as network faces three-day rollback risk
Ravencoin said deposits, withdrawals, and payments since Aug. 7 could be reversed if a miner-rebuilt chain becomes dominant.
Ravencoin's native token, RVN, fell about 20% after a critical software flaw led to invalid blocks being accepted by vulnerable nodes on the blockchain, creating a rollback risk for transactions made since Friday, Aug. 7. Decrypt reported the first known invalid block appeared at block height 4,487,776 at 15:44:01 UTC on Aug. 7.
The blockchain uses proof-of-work, and consensus is determined by which chain has the most supporting hash power. According to the network notice, two mining pools, 2Miners and RavenMiner, control a majority of the hash rate and are mining a chain that excludes the exploited branch from block height 4,487,776 onward.
If the miner-rebuilt chain becomes the dominant version, Ravencoin warned it could trigger a deep reorganization of roughly three days. Decrypt said users and exchanges were told to treat post-flaw transactions as at risk of reversal, including deposits, withdrawals, and payments made since Friday.
The project said it asked the pools to consider a more recent recovery point to reduce the impact, but that request was declined. Decrypt reported the rollback scenario could erase several days of transaction history if the replacement chain takes over.