Ravencoin Hits Record Low as Mining Pools Race to Reverse Network Exploit

Ravencoin (RVN) dropped to a record low after a consensus-layer exploit allowed vulnerable nodes to accept invalid blocks. Now two mining pools controlling most of the network hash rate are building a competing chain. The goal: force a rollback that could unwind days of transactions.

RVN fell to $0.002754. That is roughly 22% below its 24-hour high of $0.003529. The token later recovered to around $0.00284, according to CoinGecko data cited by Cointelegraph. Trading volume topped $18 million during the sell-off before easing to roughly $9.6 million.

The first known invalid block appeared at height 4,487,776 on Aug. 7 at 15:44:01 UTC. Ravencoin disclosed the detail in a network notice posted to X on Tuesday. “The issue caused invalid blocks to be accepted by vulnerable nodes,” the notice said.

Mining pools 2Miners and RavenMiner together control a majority of the network hash rate. Both are mining a chain that excludes the exploited branch from height 4,487,776 onward. If that chain becomes dominant, the network could undergo a reorganization spanning approximately three days, the notice said.

A rollback that deep would threaten any transaction confirmed after block 4,487,775. “Transactions confirmed after block 4,487,775 should be treated as at risk,” the notice said. Some affected transactions may return to the mempool and be mined again, “but this is not guaranteed.”

The developer who published the notice said they asked the pools to consider a more recent recovery point to limit disruption for users, services and exchanges. “That request was declined,” the developer wrote in the notice, as reported by Decrypt.

Ravencoin recommended that exchanges temporarily suspend RVN deposits and withdrawals until the chain stabilizes. “Exchanges should not assume that reversed deposits or withdrawals will automatically reappear or be confirmed again,” the notice said.

Upbit, a South Korean exchange, suspended RVN transfers but kept trading open. Bitget also halted transfers, Cointelegraph reported. Bitvavo froze RVN movement, according to Decrypt.

The fix treats block 4,487,775 as the last valid block and restarts the chain from there, according to a hardfork notice linked by RavenMiner. Ravencoin is a proof-of-work network forked in 2018 to issue tokens. It now faces a straightforward question: can the competing chain accumulate enough work to outpace the exploited branch?

RVN has shed close to half its value since late May, when it traded near $0.0055. The token had been range-bound between roughly $0.0038 and $0.0045 since mid-June before this week’s break lower, Decrypt reported. Market cap sits near $46 million.

What remains unknown is whether the pools’ chain will become dominant, how many transactions would be reversed, and whether any funds were taken through the exploit itself. The notice frames the issue as invalid-block acceptance, not theft.