Bitcoin at $0.02? Revolut’s Glitch Had Traders Double-Checking Their Screens

TLDR

• Revolut briefly displayed Bitcoin at $0.02, while major exchanges showed BTC near $79,000–$80,000
• The glitch lasted only a few minutes, between 7:45–7:50 GMT+1 on Thursday morning
• Revolut blamed the error on a third-party data provider disruption
• No trades, user balances, or customer funds were affected
• The incident followed Revolut recently receiving its full UK banking license

Revolut, the fintech app used by over 70 million people worldwide, briefly showed Bitcoin trading at $0.02 on Thursday morning. The real price at the time was around $79,000 to $80,000. The error lasted only a few minutes but spread quickly on social media after push notifications went out to users.

Screenshots posted on X showed a Revolut alert reading: “BTC reaches a 52-week low. The price of BTC has dropped to $0.02.” That message alarmed some users, while others found it funny.

The glitch appeared between 7:45 and 7:50 GMT+1, according to user reports. During that window, Bitcoin continued trading normally on Coinbase, CoinGecko, and CoinMarketCap. No price disruption appeared on any major exchange.

Revolut confirmed the issue came from a third-party service provider. A spokesperson said the pricing error had been fixed and that the app was again showing correct market data. The company said it was still looking into the exact cause of the disruption.

Revolut also said the glitch only affected price displays and push notifications. Trading, user balances, and customer funds were not impacted.

What Caused the Error

Revolut is a neobank, not a dedicated crypto exchange. It relies on outside providers for market data, liquidity, and order execution. When one of those providers had a disruption, it fed bad data into Revolut’s pricing and alert systems.

It is not clear which provider was involved. Revolut has not named them publicly. The company said it is still evaluating what happened.

Revolut’s own 24-hour price charts for other cryptocurrencies, including Ethereum and XRP, also showed sharp drops at the same time as the Bitcoin error.

Context: Revolut’s Recent Expansion

The incident happened shortly after Revolut received its full UK banking license. The company had applied in 2021 and received a conditional license in July 2024. Full approval came last month, clearing the way for broader UK banking services including deposits.

Revolut is also applying for a US banking license and is reportedly targeting a $200 billion valuation in an IPO, though that is not expected before 2028.

The company posted £3.1 billion in revenue in 2024 and processed over £1 trillion in transactions. It operates in 140 countries.

Regulators in Italy fined Revolut €11 million in April for unfair commercial practices. Lithuania issued a separate €3.5 million fine over anti-money laundering failures.

Revolut said pricing has been restored and the issue is resolved.

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