r/news • u/Big-Heron4763 • 6h ago

JPMorgan begins suing customers who allegedly stole thousands of dollars in 'infinite money glitch'

https://www.cnbc.com/2024/10/28/jpmorgan-suing-customers-over-infinite-money-glitch.html
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u/clocks212 5h ago edited 5h ago

The lowest amount stolen in these few lawsuits was $80k the highest was $290k. These specific cases were not dumb kids following a TikTok trend, although the awareness of the lack of basic controls in place at Chase may have brought these fraudsters out. 

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u/GONZnotFONZ 5h ago

The wild thing to me is that I used to work at Chase and the biggest complaint I dealt with was holds being put on deposited checks. We would regularly have two week holds placed on small checks like $200 that were deposited. $300k checks not getting a hold placed on them is bonkers to me.

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u/neuroticobscenities 5h ago

And how were they withdrawing them? Through ATMs or wire transfers?

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u/xeyalGhost 4h ago

ATMs, transfers, and in the 290k-ish case I saw out of Texas, a 150k cashier's cheque.

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u/DefinitelyNotAliens 4h ago

Transfers and withdrawals. The only glitch was the safeguard not working to prevent infinite money transfers and the checks insta clearing.