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Ravencoin falls to record low as exploit threatens transactions
Ravencoin said confirmed transactions after block 4,487,775 could be reversed, and it recommended exchanges halt deposits and withdrawals until the chain stabilizes.
Ravencoin dropped to an all-time low on Wednesday after an exploited consensus vulnerability left several days of transactions at risk, according to Cointelegraph.
The coin fell to $0.002754, about 22% below its 24-hour high of $0.003529, while trading volume rose above $18 million during the sell-off before easing to about $9.6 million. Ravencoin later recovered to around $0.00284, the outlet reported.
Ravencoin said the exploit caused vulnerable nodes to accept invalid blocks, with the first known instance appearing at block height 4,487,776 on Friday, and more invalid blocks showing up after the flaw was demonstrated on the mainnet.
Cointelegraph reported that mining pools 2Miners and RavenMiner, which Ravencoin said control a majority of the network’s hash rate, are building a competing chain that excludes the exploited branch, which could trigger an approximately three-day reorganization. Ravencoin warned that transactions confirmed after block 4,487,775 could be reversed and may not automatically return to the mempool or be mined again, and it recommended exchanges halt deposits and withdrawals until the chain stabilizes. Upbit and Bitget suspended RVN transfers, while Upbit left trading available.