Users were able to submit orders to acquire bitcoin for roughly $34,500 on the evening of February 25, Pacific Time (PT) — around $4,000 less than the current market price of $38,500 at the time of writing.
According to a source, none of those directives have been carried out. Robinhood has subsequently issued a statement through Twitter, stating that
The Robinhood app experienced a temporary issue that led to an incorrect display price for crypto for an hour at 6:50 pm PT. The issue is now resolved. Some customers may have unfilled market orders due to this display issue. We apologize for any inconvenience caused.
— Robinhood Help (@AskRobinhood) February 25, 2022
According to the same statement, the issue has subsequently been addressed, but clients who attempted to execute transactions during that period have been left with unfulfilled orders. However, Twitter users were quick to point out the abrupt and inexplicable drop in Robinhood’s bitcoin quote relative to other crypto applications and exchanges. Some users also expressed frustration that their orders had not been delivered.