Revolut Users See Bitcoin Priced at $0.02 in Brief Data Provider Error

TLDR

• A data provider malfunction caused Revolut to show Bitcoin priced at $0.02 while actual market rates hovered around $79,000–$80,000
• The pricing error persisted for approximately five minutes, occurring between 7:45–7:50 GMT+1 on Thursday
• Revolut attributed the malfunction to disruption from a third-party data supplier
• Customer balances, transactions, and trading functionality remained unaffected throughout the incident
• The glitch occurred weeks after Revolut secured its complete UK banking authorization

On Thursday morning, Revolut—the financial technology platform serving more than 70 million users globally—momentarily displayed Bitcoin at a price of $0.02. Actual market prices at that moment ranged between $79,000 and $80,000. Though the malfunction lasted mere minutes, it quickly gained attention across social platforms after automated price alerts reached users’ devices.

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 many responded with humor.

User reports indicate the error surfaced between 7:45 and 7:50 GMT+1. Throughout this timeframe, Bitcoin maintained normal trading activity across Coinbase, CoinGecko, and CoinMarketCap. Major cryptocurrency exchanges experienced no pricing anomalies.

Revolut acknowledged the problem originated from an external service provider. A company representative confirmed the pricing discrepancy had been corrected and accurate market information was once again displaying within the application. The firm indicated it continues investigating the precise source of the data disruption.

Revolut emphasized the malfunction exclusively affected displayed prices and automated notifications. Trading capabilities, account balances, and client assets experienced no disruption.

What Caused the Error

As a digital banking platform rather than a specialized cryptocurrency exchange, Revolut depends on external vendors for market information, liquidity provision, and trade execution. When one such vendor experienced technical difficulties, it transmitted incorrect data into Revolut’s pricing infrastructure and alert mechanisms.

The specific provider responsible remains undisclosed. Revolut has not publicly identified the vendor and stated it continues assessing the circumstances.

Revolut’s 24-hour price graphs for additional digital assets, including Ethereum and XRP, similarly exhibited sudden downward movements coinciding with the Bitcoin pricing error.

Context: Revolut’s Recent Expansion

This incident followed closely after Revolut obtained full UK banking authorization. The organization submitted its application in 2021 and secured provisional approval in July 2024. Complete authorization arrived last month, enabling expanded UK banking operations including deposit services.

Revolut is pursuing US banking licensure and reportedly aims for a $200 billion valuation through a public offering, though such plans aren’t anticipated before 2028.

The platform reported £3.1 billion in revenue during 2024 and facilitated transaction volumes exceeding £1 trillion. Operations span 140 nations.

Italian authorities imposed an €11 million penalty on Revolut in April regarding unfair business practices. Lithuanian regulators separately levied a €3.5 million fine concerning anti-money laundering compliance shortcomings.

Revolut confirmed pricing functionality has been restored and the issue fully resolved.

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