Imagine thinking you’ve found a magic trick to get free money from a bank. That’s what some people on TikTok thought when they heard about a glitch at Chase Bank. This glitch supposedly let them take out lots of money from ATMs, even if they didn’t have that money in their accounts.
Here’s what happened: TikTok users started posting videos saying you could deposit a fake check into your account and then quickly withdraw the cash before the bank realized the check was no good. They called it the “infinite money glitch.” Lots of people got excited, thinking they could get rich quick. They lined up outside Chase Banks, especially in places like New York, to try their luck.
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
But, there was a big problem. This wasn’t a magical money glitch; it was actually something called check fraud, which is illegal. Banks like Chase usually take a few days to check if a check is real. During this time, if you take out money from a fake check, you’re essentially taking a loan you can’t pay back.
Chase Bank caught on fast. They fixed the glitch, and then came the shock for those TikTokers. Instead of becoming rich, many found themselves in huge debt. Some people’s bank accounts showed they owed as much as $40,000! Chase Bank didn’t just let this slide; they put holds on these accounts, meaning no one could use them until things got sorted out, and started working to get their money back.
People on social media and experts quickly pointed out that this “glitch” was just old-fashioned fraud dressed up in a new, trendy name. Those who tried to exploit this were not only left with massive debts but also could face legal trouble since what they did was against the law.
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
This whole event turned into a big lesson about why trying to trick the system doesn’t work. It showed everyone, especially young TikTok users, that if something sounds too good to be true, it probably is. Banks have lots of ways to catch fraud, and they’re not just going to let money walk out the door.
In the end, what seemed like a fun way to get quick cash turned into a financial nightmare for many. It’s a reminder to think twice before following the crowd on social media for things that involve money or legality. Always remember, there’s no such thing as free money, especially not from a bank glitch.