Summary
- A consensus issue enabled invalid blocks on Ravencoin starting from height 4,487,776 on August 7.
- Major mining pools, 2Miners and RavenMiner, are focusing on a chain that omits the compromised segment.
- If this chain prevails, the network may undergo a significant reorganization spanning approximately three days, with users and exchanges advised to consider transactions post-exploit as potentially reversible.
Ravencoin's developers announced on Tuesday that the cryptocurrency's blockchain could potentially erase several days' worth of transactions due to a security flaw that was exploited. This incident has resulted in a dramatic 20% decrease in the value of its native token, leading to a loss of tens of millions in market capitalization.
The project alerted users about the vulnerability through a post on X, indicating that any deposits, withdrawals, and transactions conducted since Friday are vulnerable to being reversed.
The exploit was identified on August 7. Ravencoin, trading under the ticker RVN, operates on a proof-of-work system, similar to Bitcoin, from which it forked in 2018 to create its tokens. In this model, the chain supported by the most computational power is recognized as valid.
This exploit disrupted that principle. "The issue caused invalid blocks to be accepted by vulnerable nodes," the announcement stated. "The first identified invalid block occurred at height 4,487,776 on 2026-08-07 15:44:01 UTC."
Ravencoin Network Notice
A critical consensus vulnerability has been demonstrated and exploited on the Ravencoin network.
The issue caused invalid blocks to be accepted by vulnerable nodes. The first known invalid block appeared at height 4,487,776 on 2026-08-07 15:44:01 UTC.ā¦
ā Project Raven š¦ / RVN / Ravencoin (@Ravencoin) August 10, 2026
The total computational power, or hash power, is crucial for miners securing the chain; the entity with the most power dictates the recognized record. On Ravencoin, this power is concentrated among a few players. "2Miners and RavenMiner currently control a majority of the network hash rate and have announced they are mining a chain that excludes the exploited branch from height 4,487,776 onward," the notice detailed.
If other miners join this effort, the alternative chain could become the dominant one. "Should that happen, it may lead to a deep chain reorganization of about three days," the post warned.
The developer who issued the notice sought to mitigate the impact but was unsuccessful. "I asked the pools to consider a more recent recovery point to lessen the effects on users, services, and exchanges. That request was turned down."
Who is Affected
The guidance given to exchanges was straightforward: "I recommend that exchanges temporarily halt RVN deposits and withdrawals until the network situation is resolved and the chain state stabilizes." Both South Korea's Upbit and the Netherlands' Bitvavo have already suspended RVN transactions.
To address the chain's issues, the proposed solution involves reverting to block 4,487,775 as the last valid block and restarting from that point.
For those who executed transactions post-flaw, the warning is clear: "Transactions confirmed after block 4,487,775 should be regarded as at risk. Some affected transactions may return to the mempool and be mined again, but this is not guaranteed." The notice further states that "exchanges should not assume that reversed deposits or withdrawals will automatically reappear or be confirmed again."
This is not the first instance of a supposedly immutable ledger being compromised. Ethereum's beacon chain experienced its longest reorganization in years in 2022, while proof-of-work chains like Ethereum Classic have faced numerous 51% attacks allowing attackers to manipulate blocks. Following Ethereum's transition to a proof-of-stake model in 2022, Ravencoin attracted a surge of Ethereum miners, resulting in a significant increase in its hash rate, but this concentration has its drawbacks.
The sell-off occurred immediately after the notice was disseminated, with the Ravencoin/USDT daily chart showing a long red candle that reflected a 20.40% loss for the day.
The decline erased months of stable trading between 0.0038 and 0.0045, which the token had maintained since mid-June. Currently, the token holds a market cap of $46 million, having lost tens of millions in value within hours.
Since late May, when it was around 0.0055, RVN has lost nearly half its value.