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A viral online trend which saw people withdrawing large sums of cash from Chase Bank has left some in serious trouble.
The trend spread across TikTok after people claimed to be taking advantage of an 'infinite money glitch' from the bank’s ATMs.
However, it hasn’t gone well for those who tried it out and has left some people in a tricky situation.
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The apparent glitch supposedly enabled users to withdraw money without it affecting their bank balance but it turns out that there’s no such thing as free money.
The trend has left people in large amounts of debt and some have even suffered frozen accounts as a result.
According to one X user, the TikTok trend “tricked users into believing they could exploit a Chase Bank ATM ‘glitch’ for endless free cash by depositing fake checks and withdrawing money before they cleared.
“The scam has backfired, with Chase freezing accounts and imposing massive negative balances.”
It seems that the bank has now fixed the problem and some people are finding themselves in a difficult situation as a result.
Yesterday, a glitch in Chase Bank's system allowed people to withdraw funds they weren’t entitled to, prompting the bank to place 7-day holds on the affected accounts.
— Open Source Intel (@Osint613) September 1, 2024
As a consequence, chase account holders who participated in this glitch are now dealing with massive negative… pic.twitter.com/T0M1FULvoW
To make matters worse, a lot of people who participated in the trend filmed themselves doing it for social media, implicating themselves publicly in fraudulent activity.
A spokesperson for Chase Bank said: “We are aware of this incident, and it has been addressed.
“Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”
Speaking about the so-called glitch, Austen Allred, the CEO of Bloom Institute of Technology said: “So the ‘Chase unlimited money glitch’ that went viral on TikTok was: Writing yourself a giant check, mobile depositing that check, going to an ATM to withdraw cash before the check cleared. Literally just committing check fraud.”
Author Jim Wang, who makes finance related posts on TikTok also warned that the check fraud would result in 'huge trouble if you do something like this'.
Since the trend has caused a stir online, people have taken to social media to share their reactions to others facing consequences for taking part in it.
One user on X wrote: “Good luck with the felony fraud charges to all who participated!”
Another said: “On top of it, they film themselves afterwards and admit to it.”
A third person joked: “The bank won't let you do fraud? OMG who would have thought?”
And a fourth added: “People like this could win the lottery and be broke within 6 months.”
