Ravencoin hits record low as network exploit puts transactions at risk
Mining pools controlling most of Ravencoin’s hash rate are building a competing chain that could trigger a three-day reorganization.
Ravencoin dropped to a new all-time low on Wednesday as an exploited consensus vulnerability left several days of transactions at risk and prompted exchanges to suspend RVN transfers.
According to CoinGecko, the cryptocurrency dropped to $0.002754, about 22% below its 24-hour high of $0.003529. Trading volume climbed above $18 million during the sell-off before easing to about $9.6 million, while RVN recovered to around $0.00284, at the time of writing.
On Tuesday, Ravencoin said the exploit caused vulnerable nodes to accept invalid blocks, with the first known instance appearing at height 4,487,776 on Friday. Similar invalid blocks appeared after the flaw was demonstrated on the mainnet, it added.