Ravencoin Blockchain Hacked, Exchanges Take Precautions

Ravencoin (RVN) is reeling after a critical flaw in its blockchain was exploited, allowing malicious actors to rewrite transactions and potentially reversing payments that had already been settled.

The vulnerability was first identified on August 7 at block height 4,487,776, and since then, multiple instances of the exploit have been reported. Ravencoin has released a fix for the issue, but the patch does not undo what has already been written to the blockchain.

As a result, several exchanges have taken precautions by suspending RVN deposits and withdrawals. Amsterdam-based Bitvavo cited the exploited vulnerability as its reason for halting transactions, while South Korea's Upbit placed an investment warning on RVN across its markets and stopped accepting deposits.