Bitcoin Price Crashes Near Zero on Revolut, Blamed on Third-Party Service Disruption

Trading level Revolut concisely showed a Bitcoin terms adjacent zero overnight, with propulsion notifications of the evident driblet sparking disorder among users—but it was lone a glitch, which the steadfast says is present fixed.

Some Revolut users received notifications claiming Bitcoin had reached a 52-week debased astatine $0.02 Thursday morning. The erroneous terms show lasted lone moments betwixt 7:45 and 7:50 GMT+1, according to idiosyncratic reports. A Revolut spokesperson told Decrypt that the pricing mistake was owed to an contented with an as-yet-unspecified third-party work provider.

"Earlier today, a work disruption astatine a third-party supplier resulted successful inaccurate pricing connected our platform,” they said. “We tin corroborate that this contented has been rectified and pricing is present reflecting the marketplace conditions. We are successful the process of evaluating the details of the disruption."

While Revolut displayed Bitcoin astatine near-zero prices, the cryptocurrency continued trading usually connected large exchanges and showed nary disruptions connected salient terms trackers. CoinGecko, CoinMarketCap, and Coinbase information showed nary melodramatic alteration to Bitcoin's existent marketplace terms during the incidental window.

Following the incident, immoderate users took to societal media to stock concern, portion others poked amusive astatine the error—and the evident accidental specified a plunge would create.

“BTC ‘crashed’ to $0.02 connected Revolut. For 3 seconds, I thought I was astir to bargain the full proviso and go Satoshi’s last boss,” 1 X user wrote.

Revolut’s 24-hour charts for different starring cryptocurrencies similar Ethereum and XRP besides presently amusement important terms drops astatine the aforesaid time, though not astir arsenic heavy arsenic the Bitcoin plunge.

Revolut, which offers crypto trading alongside accepted banking services to millions of users crossed Europe, has expanded its integer plus offerings successful caller years.

The steadfast applied for a U.S. banking licence successful March, and is reportedly seeking a $200 cardinal valuation successful an IPO, according to a caller Financial Times report—but isn’t readying to acquisition that process until 2028.