Ravencoin consensus bug puts exchanges and bridges on reorg alert

Ravencoin, a proof-of-work chain worth around $57 million, warns about an attack exploiting a critical consensus flaw in which the compromised nodes will be able to validate blocks that shouldn’t be accepted. However, the problem with the attack isn’t limited to Ravencoin. Chain reorganization in a coin that’s worth relatively little could result in freezing funds already processed by exchanges and cross-chain bridges.

This means that the flaw is critical not just to the particular coin but to the whole cryptocurrency market. The transactions included in the blocks could be completely erased from the official chain when the old validated blocks are removed and replaced by the new ones. On Monday, the RVN price reached $0.003507, down by 1.2% compared to the previous day. Daily volume grew by 219% and reached $4.57 million.

What Ravencoin actually disclosed

On August 10, the Ravencoin team shared a notice on X asserting that a vulnerability has been “demonstrated and exploited.” As a result, invalid blocks may pass through the unpatched nodes. The first bad block recognized by the team is at block height 4,487,776, which is identified as having been timestamped at 15:44:01 UTC on August 7.

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