Amid ongoing hacker attacks in the cryptocurrency market, hackers have this time targeted Ravencoin ($RVN), an altcoin based on the Proof-of-Work algorithm.
In this instance, hackers created invalid blocks in the Ravencoin ($RVN) network. The Ravencoin team confirmed the hack, explaining that a critical consensus vulnerability in the network was exploited, causing some nodes to accept invalid blocks.
Although the attackers managed to create invalid blocks using the vulnerability they discovered, the first known invalid block in the network, according to an official Ravencoin statement, appeared on August 7, 2026, at 15:44:01 UTC and had a height of 4,487,776.
This negative development raised concerns that the network might face a blockchain reorganization so deep that transactions from approximately the last three days would need to be reversed.
According to the statement, mining pools 2Miners and RavenMiner currently control the majority of the network's hash rate and have begun mining on an alternate chain, excluding the hacked branch, starting from block height 4,487,776. If the miners, who are said to dominate the network, decide to let this alternate chain become dominant, the chain could be rolled back four days, returning to a state prior to August 7, the date the attack began.
Such a large-scale reorganization could mean removing certain transactions from the blockchain's history and re-executing them. This, consequently, poses a significant risk, especially for exchange deposit and withdrawal operations.
Therefore, the Ravencoin team recommended that exchanges temporarily suspend $RVN deposits and withdrawals until the network stabilizes.
The project also reported that transactions confirmed after block number 4,487,775 should be considered risky.
Consequently, exchanges such as Bithumb and Upbit have temporarily suspended $RVN deposit and withdrawal operations. They also stated that $RVN received a warning.
The vulnerability in the network's security system and the potential reorganization risk directly impacted the price of $RVN. The price of Ravencoin fell by approximately 20% within minutes of the news spreading.
*This is not investment advice.
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