Two mining pools largely control the Ravencoin mining, and have already begun rolling back the blockchain to a point prior to the invalid blocks. This is a controversial move in the crypto world, where immutability is considered sacrosanct. It's also disruptive, because legitimate transactions during that time period will be undone, with coins returned to the origin wallets. Several exchanges have halted RVN withdrawals and deposits, anticipating potential issues.
Ravencoin rolls back blockchain after exploit
Attackers exploited a vulnerability in Ravencoin, a blockchain based on the bitcoin codebase, to mine invalid blocks. Although Ravencoin subsequently patched the bug, the blockchain contains roughly four days of invalid history.
Harmony token plunges 40% after unauthorized mint
An attacker was able to exploit the Harmony blockchain to mint 4 billion of the network's $ONE token. The massive increase in token supply caused the token price to plunge 40%.
Harmony paused its token bridge and asked exchanges to freeze tokens coming from four addresses connected to the attacker. They also said they were considering a possible rollback — that is, reverting the blockchain to a pre-attack state, undoing all transactions since that point. This is a very controversial choice in the crypto world, where blockchains are prized for their immutability. It also becomes less effective if attackers are able to move tokens off the network before the rollback happens.
This is the second time Harmony has had mint-related issues. In January 2024, a bug caused around 150 million $ONE to erroneously be minted and distributed to 79 wallets. And in June 2022, Harmony suffered a $100 million theft, later attributed by the US FBI to North Korean hacking groups.