RVN dropped roughly 21% in 24 hours after Ravencoin confirmed a consensus vulnerability had let attackers forge invalid blocks since August 7. Exchanges including Upbit and Bitget suspended R
Ravencoin’s RVN token lost about a fifth of its value on August 11 after the project confirmed that attackers had spent four days exploiting a flaw in its block validation code. The first known invalid block was accepted by vulnerable nodes at height 4,487,776 on August 7, and by the time Ravencoin issued its public notice four days later, two of the network’s largest mining pools were already building an alternative chain that excludes the compromised blocks. The selloff dragged Ravencoin’s market capitalization down to roughly $46 million.
Peak Price
$0.2855
Feb 20, 2021
Current Price
$0.00282
-20.3% today
Peak Market Cap
~$2.3B
Circulating supply era
Market Cap Now
$46.12M
-99% from peak
Ravencoin mines new blocks using KAWPOW, an algorithm built to resist specialized mining hardware and keep block production spread across ordinary GPUs. Every block header carries a field called nHeight, meant to record where that block sits in the chain. That field was supposed to be checked against a block’s actual position, and it never was. An attacker could manipulate the value to make a forged block look like it had completed the required proof of work when it had not. A researcher privately disclosed the vulnerability to Ravencoin on August 8, sharing a full technical analysis along with a proposed fix. Once the trick had been demonstrated on the live network, other miners appear to have copied it, adding more invalid blocks to the count over the following days.
2Miners shipped an emergency patch, version 4.6.1.1-hf1, that rejects the forged blocks and checkpoints the chain at block 4,487,775. The pool identified 96 affected blocks scattered across a 2,089-block range, meaning any transaction confirmed in that window carries some risk of being reversed. 2Miners and RavenMiner, which together control a majority of Ravencoin’s hash rate, are now mining a chain that excludes the exploited branch entirely. Ravencoin’s team pushed for a gentler fix, but a request to adopt a more recent recovery point, one that would reduce disruption for users and exchanges, was declined by the pools. Upbit and Bitget both suspended RVN deposits and withdrawals as the situation unfolded, and Ravencoin urged every exchange, node operator, and block explorer still running the old software to upgrade immediately.
August 7, 2026First invalid block accepted at height 4,487,776 at 15:44 UTC.
August 8, 2026Vulnerability privately disclosed to the Ravencoin team with a full technical analysis and a proposed fix.
August 10, 20262Miners ships emergency patch 4.6.1.1-hf1, checkpointing block 4,487,775. Both pools begin mining a chain that excludes the exploited branch.
August 11, 2026Ravencoin publishes its public network notice. Upbit and Bitget suspend RVN deposits and withdrawals.
August 11, 2026RVN falls roughly 21% intraday. Market cap drops to about $46 million.
This is not Ravencoin’s first consensus-level breach. In 2020, attackers exploited a separate flaw to mint about 315 million unauthorized RVN tokens, an incident rooted in excess issuance rather than block validation. The current bug sits in a different part of the system, tied to how the chain verifies proof of work and settles between competing histories, but the two episodes together mean the project has now had to rebuild user trust twice in six years. What stands out this time is where the fix came from. The patch that stabilized the network shipped from a mining pool rather than from Ravencoin’s own core development team, a detail that raises its own questions about how the project audits changes to code every node on the network depends on.
RVN has been sliding inside a descending channel on the daily chart since March, with the lower boundary holding on every prior test. Today’s candle closed clean through it, the first close-through since the channel formed. That distinction matters: wicks poking below a trendline happen often and get bought back quickly, but a full close below the line signals sellers held control through the entire session rather than just testing the level.
RVN/USDT daily chart on TradingView. Chart analysis by Alexander Stefanov. Price is also trading beneath both the 50-day moving average and the 200-day average, simple markers of where the average buyer has been positioned over the past two and eight months. With price under both, there’s no obvious pocket of trapped buyers nearby who might step in and defend a level on the way down. The 14-period RSI sits at 18.56, the most stretched oversold reading anywhere on this chart, below even June’s capitulation low. An RSI this low usually reflects exhausted selling pressure, but oversold readings can persist for several sessions once a move turns into a liquidation cascade rather than ordinary profit-taking.
Session Low$0.00283Being tested right now — the floor of the visible rangeResistance$0.00416Fib 0.236 — first level to reclaim on any bounceSMA 50$0.00372Price broke below it in June and hasn’t reclaimed it sinceSMA 200$0.00515No support structure between current price and this lineTwo paths open up from here. A relief bounce toward the $0.00370-$0.00416 zone, where the 50-day average and the 0.236 fib level overlap, would fit a standard oversold mean reversion. Continuation lower would fit if the selling is being driven by something structural, forced liquidations or exchange-specific flow tied to the frozen transfers, rather than by sentiment alone. Whether today’s volume was outsized against the past month’s average is the piece still missing before calling this exhaustion versus the start of another leg down. (Analysis: Alexander Stefanov)
Transactions confirmed inside the compromised block range stay in limbo until the 2Miners and RavenMiner chain builds enough work to overtake the branch it’s trying to replace. How long that takes depends on what share of Ravencoin’s remaining hash rate follows the two pools rather than continuing to extend the old branch, and neither pool has published a hash rate estimate for the clean chain yet. Exchanges are likely to keep deposits and withdrawals frozen until that resolution is confirmed on-chain rather than simply announced, which means liquidity on order books could stay thin for longer than the price chart alone suggests.
The post Ravencoin’s Long Fall Hits Bottom as Exploit Freezes Transfers appeared first on ETHNews.
