Ravencoin (RVN) Review: Is It Scam?

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Blockchain247

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Ravencoin is a blockchain specifically dedicated to the creation and peer-to-peer transfer of assets. Do you wonder if Ravencoin (RVN) could be scam? In this review, we will provide you with complaints, scam accusations and bad rumors against Ravencoin (RVN) that you should look at to be aware before investing.

The Ravencoin platform is a peer-to-peer (P2P) blockchain network that handles the formation and transfer of digital assets from one token holder to another. Ravencoin aims to prioritize user control, security, censorship resistance, and privacy.

Ravencoin (RVN) lacks of transparency​

However, we have identified as Ravencoin (RVN) coin operating without a valid regulatory financial license and has therefore been flagged as a potential crypto scam.

Ravencoin was developed as a decentralized alternative to the traditional banking system, however the ability to easily transact globally free from a centralized system brought opportunities for criminals to exploit this new technology.

Here is the Ravencoin (RVN) trustscore on Trust Level, it has extreme low score which is only 1.23/10:

Furthermore, Raven doesn’t publicly reveal any information about its team. All the work regarding the development of the open-source project is done by a decentralized community of the Ravencoin Foundation and managed by Tron Black.

Ravencoin suffered from inflation bugs, lost millions of dollars​


The Ravencoin team announced it had been attacked on July 2, 2020 by its inflation bugs. According to the official report, the hackers minted about 1.5% of the total supply cap of 21 billion, which amounts to about 315 million “coins.”

A statement from the publication reads: “The vulnerability does not allow the stealing of RVN or assets that you own and control, but the minting did create RVN that should not exist. We’ve discussed the impact of the extra RVN and what can be done. Because those RVN were transferred to an exchange and traded, they are mixed with other RVN and therefore any programmatic attempt at burning them, with miner and community backing, would cause irreparable harm to innocent victims".​



Tron Black has been steadily reporting and working on the Ravencoin blockchain to patch the bug that was exploited to inflate the strict maximum supply of RVN. This event could be considered as the security of Ravencoin is not solid and there are many chances of asset losses if you start to invest in Ravencoin (RVN).

There are many troubles around Ravencoin (RVN) that makes us concerned about their reliability. How about your opinion? Do you think it is a scam or you still believe it is a legit project?
 

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