đšTiktok's 'INFINITE MONEY' glitch leaves users in financial debt!
A viral TikTok trend, dubbed the âinfinite moneyâ glitch, has reportedly left users with massive debts and frozen bank accounts. The trend encouraged people to exploit a supposed "glitch" at Chase Bank ATMs, allowing them to withdraw large sums of money by depositing fake checks that had not yet cleared. Now, those who tried their luck are facing the harsh reality: their accounts are in the red, with some showing significant negative balances.
How did it work? Social media videos showed users depositing fraudulent checks and withdrawing cash before the bank's systems could authenticate the transactions. However, what seemed like a loophole was nothing more than a classic case of check fraud. As expected, Chase Bank quickly addressed the issue. Accounts involved in the scam are now frozen or heavily overdrawn, and Chase has warned users that this behavior is criminal.
Chase speaks out A Chase spokesperson commented, "Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple." The bank stressed the importance of being skeptical of online trends that sound too good to be true.
Expert takes Financial experts have chimed in, debunking the âglitchâ as just another form of check fraud. Austen Allred, CEO of Bloom Institute of Technology, explained in a Sept. 2 post: âThe âChase unlimited money glitchâ was essentially just writing a fake check, depositing it via mobile, and withdrawing cash before the check clearedâpure and simple fraud.â Financial blogger Jim Wang added, âChase quickly caught on, and those involved are now seeing big holds or huge negative balances on their accounts.â
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