A pricing glitch on Revolut temporarily displayed Bitcoin at a shocking $0.02 on May 8, sparking panic among its 70 million users. The error, which originated from a third-party data provider, also affected Ethereum, Solana, and XRP, showing values far below actual market prices.
The glitch struck around 23:45 UTC, when Bitcoin was trading near $79,000 externally. Ethereum showed under $2,200, Solana around $85, and XRP at about $1.25. Major exchanges remained unaffected, confirming the issue was limited to Revolut's platform.
Revolut quickly identified the root cause as a disruption at an unnamed external data provider and deployed a fix. Crucially, no trades were executed at the erroneous prices, indicating safety measures were in place to prevent real financial damage.
For investors, this event underscores the value of cross-referencing prices with independent sources.