A viral TikTok trend known as the 'infinite money' glitch, purportedly allowing users to withdraw large sums from Chase Banks ATMs, has apparently resulted in large debts and frozen accounts for those who tried it.
Description of the glitch
Users on social media were posting themselves supposedly taking advantage of the 'glitch' by depositing fake checks and before they cleared, withdrawing money despite having sufficient funds in their accounts. Chase has now apparently rectified the issue, with some who claim to have tried to exploit the 'glitch' now reporting their accounts are in the red with massive negative balances or have had holds put on them.
Chase Bank's measures
A spokesperson for Chase Bank did not outright confirm all the online claims, but did tell the New York Post consumers should be skeptical, and if something seems too good to be true, it likely is. '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 the funds from your account is fraud, plain and simple.'
Expert opinions
Bloom Institute of Technology CEO Austen Allred said the 'glitch' was simply check fraud under a different name. Jim Wang, an author who writes about and posts about financial topics on TikTok, also debunked the 'glitch' as a case of check fraud, that would result in 'huge trouble if you do something like this.'
Users who attempted to take advantage of the 'glitch' are now facing financial difficulties, and Chase Bank has taken steps to prevent similar incidents in the future.
Comments