Key Points
- Revolut’s platform temporarily displayed Bitcoin priced at $0.02 while actual market prices hovered between $79,000 and $80,000 across major exchanges
- The pricing anomaly occurred during a brief window between 7:45 and 7:50 GMT+1 on Thursday morning
- Revolut attributed the malfunction to a disruption from a third-party data provider
- User balances, transaction processing, and customer holdings remained completely unaffected
- The occurrence came shortly after Revolut secured its complete UK banking authorization
Revolut, the digital banking platform serving more than 70 million customers globally, experienced a pricing display malfunction on Thursday morning that showed Bitcoin valued at $0.02. Meanwhile, actual trading prices across cryptocurrency exchanges remained in the $79,000 to $80,000 range. The error persisted for several minutes before correction, though word spread rapidly across social platforms after automated alerts reached users.
Images circulated on X displayed a Revolut notification stating: “BTC reaches a 52-week low. The price of BTC has dropped to $0.02.” The message triggered concern among certain users, though others 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 indicated the malfunction manifested between 7:45 and 7:50 GMT+1. Throughout this timeframe, Bitcoin maintained normal trading activity on Coinbase, CoinGecko, and CoinMarketCap. Major cryptocurrency exchanges registered no unusual price movements.
Revolut acknowledged the problem originated from a third-party service provider. A company representative confirmed the pricing discrepancy had been corrected and accurate market information was again flowing through the application. The firm indicated ongoing investigation into the precise origin of the disruption.
Revolut clarified the malfunction exclusively impacted price displays and automated notifications. Transaction execution, account balances, and customer assets experienced zero impact.
Root Cause Analysis
Revolut operates as a neobank rather than a specialized cryptocurrency exchange. The platform depends on external providers for market pricing data, liquidity infrastructure, and order fulfillment. When one of these external services experienced a disruption, incorrect information flowed into Revolut’s pricing engine and notification infrastructure.
The specific provider responsible remains unidentified. Revolut has withheld public disclosure of the vendor name. The organization confirmed ongoing assessment of the incident.
Revolut’s 24-hour price visualization charts for additional digital currencies, including Ethereum and XRP, displayed similar steep declines coinciding with the Bitcoin pricing error.
Background: Revolut’s Growing Operations
The malfunction occurred soon after Revolut obtained its complete UK banking authorization. The organization submitted its application in 2021 and secured conditional approval in July 2024. Final authorization arrived last month, enabling expanded UK banking capabilities including deposit services.
Revolut has submitted applications for a US banking license and reports suggest plans for a $200 billion valuation through an IPO, though timing estimates point to 2028 or later.
The platform generated £3.1 billion in revenue throughout 2024 and facilitated transaction volumes exceeding £1 trillion. Operations span 140 countries.
Italian regulatory authorities imposed an €11 million penalty on Revolut in April for unfair commercial conduct. Lithuanian regulators issued a separate €3.5 million fine addressing anti-money laundering compliance shortcomings.
Revolut confirmed pricing accuracy has been reinstated and the situation is fully resolved.
