Hackers Exploit Ravencoin (RVN) Bug to Mint $5.7M Worth of Tokens from Thin Air

Rogue actors have reportedly exploited a blockchain vulnerability on the Ravencoin (RVN) network to print 315 million additional RVN tokens worth about $5.7M. Ravencoin announced the news in a Medium blog post published on Thursday (July 3, 2020). According to the statement from the project, devs at the CryptoScope team informed Ravencoin of the presence of the protocol bug that effectively allowed inflation of the latter’s token supply.

The Ravencoin statement also proposed another solution that would involve eliminating the effect of exploit by making the additional 315M RVN part of the 21B total token supply. Ravencoin is not the first altcoin token to discover an inflation bug in its protocol.

Timeline of Ravencoin