Ravencoin's price crashed 20% on Friday after a critical exploit forced two mining pools that control most of the network's hash power to rebuild the chain from before the first bad block. The rollback, if completed, would undo transactions and blocks recorded after that point.
The exploit and the price drop
The exploit hit Ravencoin's network on Friday, and the market reacted fast. The token's value fell by a fifth in a matter of hours, wiping out gains from the previous week. The exact nature of the exploit hasn't been disclosed, but it was serious enough to threaten the integrity of the entire chain.
Two mining pools, which together command a majority of Ravencoin's hash power, stepped in to contain the damage. They're now rebuilding the blockchain from a snapshot taken before the first bad block appeared. That's a drastic move, and it doesn't come without consequences.
Why the rollback is happening
The rollback is a direct response to the exploit. By reverting to an earlier state, the pools aim to erase the bad block and any subsequent blocks that might have been affected. It's a blunt instrument, but in a network where mining power is concentrated, it's one that can be applied.
Ravencoin's design relies on miners to validate transactions. When a majority of that hash power agrees on a rollback, the network follows. That's what's happening now, though the process is far from instant.
What the rollback means for users
If the rollback goes through, any transactions made after the first bad block will be reversed. That could leave users with balances that don't match what they saw on Friday. For some, that might mean losing a payment they thought had cleared. For others, it could restore funds that were spent in error.
The pools haven't said how many blocks or transactions are in the affected window. They've only confirmed that the rebuild starts from before Friday's first bad block. That leaves a lot of uncertainty for anyone who moved Ravencoin in the hours after the exploit.
No timeline has been given for when the rollback will be complete. The pools are working through the process, but until they finish, the network's state remains in flux. Users are left waiting to see whether their transactions survive the rebuild.
