Bitcoin’s Open-source Fork Ravencoin Gets Exploited By Attackers

Member of Ravencoin’s CryptoScope team reached out to the developer team of Ravencoin with these reports. The vulnerability was caused by a community code submission. Black also reported that the law enforcement have been notified about the mishaps. He suggested the community to either absorb the economic cost of the extra RVN or shift the halving of coins 44 days sooner.

Ravencoin was launched in 2018 as an open-source fork of bitcoin. Ravencoin helps with transferring assets from one party to another. Using Ravencoin a user can create assets on the basis that sticks to the rule on the platform.

Sure the system was compromised but the vulnerability wouldn’t harm the assets a user owns or control. But the minting did create RVN that shouldn’t exist. Black also added that if those RVN get transferred and traded, they will end up getting mixed with other RVN. As a result any attempt of burning them with miner and community backing would cause harm to victims. Black urged users to keep low trading until the problem solves. He also stated that the details of the vulnerability will not be published until there is a fix.