Revolut blames pricing glitch after app showed Bitcoin at $0.02

Revolut blamed a third-party pricing glitch after its app briefly showed Bitcoin at $0.02 and distorted prices for other cryptocurrencies. The company later confirmed engineers corrected the error and that no trades were executed at the incorrect prices. An internal investigation is under way.

The error began at about 23:45 UTC on May 8. Screenshots shared by users showed Bitcoin priced at $0.02 on the Revolut app while major exchanges listed the coin near $79,000. Other assets on the platform showed incorrect values: Ethereum below $2,200, Solana around $85 and XRP about $1.25. Some users saw 24-hour charts drop by roughly 50% to about $39,900 before displayed prices returned to normal.

Revolut attributed the problem to an unnamed third-party pricing provider and reported engineers worked to resolve the issue. The firm did not identify the external data source. Revolut reported that internal safeguards filtered out clearly unrealistic pricing and prevented orders from executing at those levels.

Users posted screenshots and received automated alerts showing a 52-week low of $0.02 for Bitcoin. Jordan Kerridge, who posts as That Martini Guy, described the moment as a “perfect buying opportunity.” Crypto observer Dave Flowman called the incident “just a glitch, not a real crash” and described the mispricing as a “display error.”

The issue appeared confined to Revolut’s platform. The company has more than 70 million customers worldwide.

Revolut confirmed no trades were finalized at the distorted prices and said its preventive filters contained the event. The company is continuing its investigation into why the third-party feed produced the incorrect quotes.