Key Takeaways
- A data glitch caused Revolut to display Bitcoin at just $0.02 while exchanges showed prices between $79,000 and $80,000
- The pricing error occurred for several minutes during a brief window from 7:45 to 7:50 GMT+1 on Thursday
- Revolut attributed the malfunction to a disruption from an external data provider
- User funds, account balances, and executed trades remained completely unaffected
- The glitch happened just weeks after Revolut secured its complete UK banking license
A significant pricing anomaly struck Revolut’s platform Thursday morning when the fintech giant—serving more than 70 million global users—momentarily displayed Bitcoin at an astonishing $0.02. Meanwhile, actual market prices across legitimate exchanges registered between $79,000 and $80,000. Though the malfunction persisted for only minutes, it generated substantial attention after automated alerts reached countless users.
Images circulating on X captured a Revolut notification stating: “BTC reaches a 52-week low. The price of BTC has dropped to $0.02.” The bizarre alert triggered concern among certain users, though many responded with humor.
“BTC ‘crashed’ to $0.02 on Revolut. For 3 seconds, I thought I was about to buy the entire supply and become Satoshi’s final boss,” one user posted on X.
User reports indicate the anomaly surfaced between 7:45 and 7:50 GMT+1. Throughout this period, Bitcoin maintained normal trading activity across Coinbase, CoinGecko, and CoinMarketCap. Major cryptocurrency platforms reported zero pricing irregularities.
Revolut verified that a third-party vendor caused the malfunction. Company representatives confirmed the pricing display had been corrected and that accurate market information was flowing through the platform again. The firm indicated it was conducting an internal review to determine the precise source of the data disruption.
According to Revolut, the technical issue exclusively affected visual price displays and automated notifications. Trading functionality, account holdings, and user assets experienced zero impact.
Understanding the Root Cause
As a digital banking platform rather than a specialized cryptocurrency exchange, Revolut depends on external vendors for market information, trading liquidity, and transaction processing. When one of these external services experienced technical difficulties, it transmitted inaccurate pricing information to Revolut’s display and notification infrastructure.
The specific vendor responsible remains undisclosed. Revolut has not publicly identified the provider and stated that its investigation continues.
Revolut’s 24-hour price graphs for additional digital assets, including Ethereum and XRP, displayed similar dramatic declines coinciding with the Bitcoin pricing error.
Timing: Revolut’s Banking License Milestone
This technical malfunction occurred shortly following Revolut’s acquisition of its comprehensive UK banking license. The fintech submitted its application in 2021, obtained provisional authorization in July 2024, and received complete approval last month, enabling expanded UK banking operations including deposit services.
Revolut is currently pursuing a US banking license and reportedly seeking a $200 billion valuation for a future public offering, though market observers don’t anticipate this before 2028.
The platform generated £3.1 billion in revenue throughout 2024 while facilitating over £1 trillion in total transactions. Its services span 140 nations globally.
Italian authorities imposed an €11 million penalty on Revolut in April citing improper commercial conduct. Lithuanian regulators separately levied a €3.5 million fine addressing anti-money laundering compliance deficiencies.
Revolut confirmed that pricing displays have been fully restored and the technical issue has been resolved.
