Ravencoin hit a record low Tuesday. $0.002754. The trigger: a consensus-layer bug that allowed invalid blocks onto the network. Two mining pools are now racing to rebuild the chain from before a bad block mined Friday.
The proof-of-work token fell roughly 22% from its 24-hour high of $0.003529. It later clawed back to about $0.00284, per CoinGecko data cited by Cointelegraph. Trading volume tore past $18 million during the sell-off. Market cap: near $46 million, Decrypt reported.
The disclosure came Tuesday. A network notice posted to X warned that deposits, withdrawals and payments confirmed since Friday could be reversed. Invalid blocks, the notice explained, were accepted by vulnerable nodes. “The first known invalid block appeared at height 4,487,776 on 2026-08-07 15:44:01 UTC,” the notice said.
The fix is blunt. Mining pools 2Miners and RavenMiner, which Ravencoin says control a majority of the network’s hash rate, are building a competing chain. It excludes the exploited branch from height 4,487,776 onward. Block 4,487,775 is treated as the last valid block. The chain restarts from there. If their version wins out, the network faces a deep reorganization. Roughly three days of it.
Exchanges have already moved. Upbit suspended RVN deposits and withdrawals. The second exchange named differs by outlet. Cointelegraph identifies Bitget. Decrypt names Bitvavo, a Netherlands-based platform. Both agree on Upbit.
“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.” Exchanges should not assume reversed deposits or withdrawals will automatically reappear or be confirmed again.
The developer who published the notice pushed back. They asked the pools to consider a more recent recovery point. The goal: reduce the impact on users, services and exchanges. “That request was declined,” the developer said. Their recommendation was direct: “temporarily suspend RVN deposits and withdrawals until the network situation is resolved and the chain state is stable.”
A three-day rollback would unwind transactions across the affected window. It is a materiality test case for how a mid-cap proof-of-work chain handles an active attack. Whether the competing chain overtakes the exploited branch remains unknown. At press time the reorganization had not been declared complete.
Ravencoin forked in 2018 to issue tokens. It drew a wave of former Ethereum miners after Ethereum’s 2022 move to proof-of-stake. The token had been range-bound between roughly $0.0038 and $0.0045 since mid-June. From a late-May level near $0.0055, RVN has shed close to half its value.
The attacker’s identity is not stated in either report. Sources describe the vulnerability as both exploited and demonstrated on mainnet. That distinction is not resolved. Neither is the question of whether the rollback lands cleanly. Traders, as ever, disagree.
