Key Takeaways
- Bitcoin’s price briefly appeared as $0.02 on Revolut while actual market prices hovered around $79,000–$80,000 across major platforms
- The technical malfunction occurred during a brief window between 7:45–7:50 GMT+1 on Thursday
- A third-party data provider was identified as the source of the faulty information
- Customer funds, account balances, and trading activity remained unaffected throughout the incident
- The glitch occurred weeks after Revolut secured its complete UK banking license
On Thursday morning, millions of Revolut users were startled when the popular fintech platform displayed Bitcoin’s value at just $0.02. In reality, BTC was trading between $79,000 and $80,000 across legitimate cryptocurrency exchanges. Though the malfunction persisted for mere minutes, it generated significant buzz across social platforms after automated alerts reached users’ devices.
Images circulated on X revealed a Revolut notification stating: “BTC reaches a 52-week low. The price of BTC has dropped to $0.02.” The message triggered concern among some subscribers, though many others responded with amusement.
“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 timestamps indicate the anomaly surfaced between 7:45 and 7:50 GMT+1. Throughout this period, Bitcoin maintained standard trading patterns on Coinbase, CoinGecko, and CoinMarketCap. No legitimate cryptocurrency exchange registered any corresponding price anomaly.
Revolut attributed the malfunction to a disruption from an external service provider. A company representative confirmed the pricing discrepancy had been corrected and accurate market information was restored to the platform. The firm indicated it continues investigating the precise origins of the data feed interruption.
According to Revolut, the technical problem exclusively affected displayed prices and automated notifications. All trading functionality, user account balances, and customer assets remained secure and unaffected.
Root Cause Analysis
As a digital banking platform rather than a specialized cryptocurrency exchange, Revolut depends on external vendors for market information, liquidity provisioning, and trade execution. When one of these service providers experienced technical difficulties, corrupted data infiltrated Revolut’s pricing infrastructure and notification systems.
The specific vendor responsible has not been publicly identified. Revolut representatives stated the company continues assessing the situation.
Revolut’s 24-hour price visualizations for additional digital assets, including Ethereum and XRP, displayed similar anomalous downward movements coinciding with the Bitcoin pricing error.
Background: Revolut’s Banking License Milestone
This technical mishap occurred just weeks following Revolut’s acquisition of full UK banking authorization. After submitting its application in 2021 and obtaining provisional approval in July 2024, complete licensing was granted last month, enabling expanded UK banking operations including deposit services.
Revolut is simultaneously pursuing US banking authorization and reportedly aims for a $200 billion valuation during a potential IPO, though public listing isn’t anticipated before 2028.
The financial technology firm reported £3.1 billion in annual revenue for 2024 and facilitated transaction volumes exceeding £1 trillion. Its services span 140 countries globally.
Italian regulatory authorities imposed an €11 million penalty on Revolut in April for questionable commercial practices. Lithuanian regulators separately levied a €3.5 million fine regarding anti-money laundering compliance deficiencies.
Revolut confirmed that accurate pricing data has been reinstated and the technical issue is fully resolved.
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