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As hard as it may be to believe, a financial scam that went viral on TikTok has ended up with people that used it being sued.
JPMorgan Chase has filed lawsuits against customers who allegedly stole thousands of dollars from their ATMs using the “infinite money glitch” that went viral on TikTok back in August and September.
The idea behind the “infinite money glitch” is that people would deposit a large, fraudulent check into their JPMorgan Chase accounts then withdraw large amounts of cash before the bank could process the checks and they bounced.
@babydastylist Yall momma not having that shit !!! 😭😭😂😂 #explore #fyp #chaseglitch #comedy #funnyvideos #foryou ♬ original sound – babydastylist
On Monday, JPMorgan Chase filed lawsuits in at least three federal courts, CNBC reports.
“On August 29, 2024, a masked man deposited a check in Defendant’s Chase bank account in the amount of $335,000,” JPMorgan Chase said in one of the lawsuits filed in the Southern District of Texas. “After the check was deposited, Defendant began withdrawing the vast majority of the ill-gotten funds.”
The man, located in Houston, allegedly withdrew $290,939.47 using the “infinite money glitch.”
Two other lawsuits, filed in Miami and the Central District of California, are going against alleged fraudsters who withdrew between $80,000 to $141,000 in cash from JPMorgan Chase ATMs.
The California lawsuit claims the defendant deposited two fraudulent checks totaling $116,063.55, and “began transferring substantial amounts of those ill-gotten funds out of his account.” They allege that he owes the bank $90,794.02.
JPMorgan Chase reported that its security team had tried to contact the defendants, requesting that the funds be paid back, but they had not done so or could not immediately be reached.
The bank also said it was prioritizing “infinite money glitch” withdrawls involving large dollar amounts and indications of possible ties to criminal groups.
In September, the Wall Street Journal reported the bank was investigating thousands of possible instances of check fraud.
“Fraud is a crime that impacts everyone and undermines trust in the banking system. We’re pursuing these cases and actively cooperating with law enforcement to make sure if someone is committing fraud against Chase and its customers, they’re held accountable,” a JPMorgan spokesperson said in a statement to CNBC.