A software “glitch” at JPMorgan Chase Bank ATMs allowed customers to withdraw up to $40,000 in free cash from their accounts.
The glitch went viral on TikTok and other social media apps on Saturday morning.
Some Chase account holders exploited the software glitch by depositing fraudulent checks into their accounts using the Chase mobile app. Then they went to an ATM to withdraw the money before the checks cleared.
One man withdrew nearly $40,000 from an ATM after depositing 2 fraudulent checks into his account.
Others on TikTok said they were “approved” for large loans at ATMs and were allowed to withdraw the money immediately.
Videos of happy Chase Bank customers went viral over the long Labor Day weekend.
A glitch in Chase Bank’s system enabled people to withdraw money they weren’t entitled to, leading the bank to impose 7-day holds on the affected accounts.
As a result, many account holders are now facing significant negative balances. pic.twitter.com/GSsFg0B8ew
— Shadow of Ezra (@ShadowofEzra) September 1, 2024
A spokesperson for Chase Bank said the glitch had been resolved by Sunday morning. Those who withdrew money by depositing fake checks had their accounts locked with massive negative balances.
“We are aware of this incident, and it has been addressed,” the spokesperson said. “Regardless of what you see online, depositing a fraudulent check and withdrawing funds from your account is fraud, plain and simple.”
Banks typically hold large checks for several days to verify funds are available in customers’ accounts.
The Chase spokesperson said stolen money was deducted from some bank accounts. Other bank accounts were locked and those customers’ accounts will be closed.
Chase Bank plans to prosecute customers who committed check fraud.
people are currently lined up outside a Chase bank in New York trying to do the new viral glitch to get free money ??pic.twitter.com/V49JpVu9iq
— ryan ? (@scubaryan_) August 31, 2024
Man says he is currently $40k in debt as the outcome of doing the new viral Chase money glitch
pic.twitter.com/zJjoDxRCNu— My Mixtapez (@mymixtapez) August 31, 2024
All y’all Chase Glitch folks lol
Oh they comin!!
pic.twitter.com/0J7BVtLPf5— Chef Wyze (@WyzeWordz) September 1, 2024
