Viral ‘Chase Unlimited Money Glitch’ Leaves Tiktokers in Debts, Potential Jail Time
A glitch at Chase Bank allowed customers to access cash without sufficient funds, leading to viral social media posts and videos.
The “Chase unlimited money glitch” became a sensation on TikTok when users started sharing videos demonstrating how they supposedly withdrew large sums of money from Chase ATMs without having sufficient funds in their accounts.
The method involved depositing fraudulent checks via mobile banking and quickly withdrawing the cash before the check cleared.
The trend spread quickly as more users jumped on the rush, believing they had discovered a loophole in the bank’s system to access “infinite money.”
Financial Experts Expose the Chase Unlimited Money Glitch as Fraud
Despite the viral attention, financial experts quickly disproved the glitch. Jim Wang, a personal finance author, explained that what users believed to be a “glitch” was nothing more than check fraud. “Writing yourself a giant check, mobile depositing it, and withdrawing cash before it clears is just committing check fraud,” he said.
TikTok creators and finance influencers warned followers about the severe legal risks associated with this behavior, urging users to avoid trying the tactic.
Chase Bank’s Response
Chase Bank acted quickly to address the fraudulent activity. In a statement released by the bank, they revealed that they were aware of the issue and had resolved it within a day. Those who participated in the trend could not escape the consequences, as many saw their accounts frozen or hit with massive negative balances once the fraudulent checks failed to clear.
A Chase Bank spokesperson emphasized that the “glitch” was not a loophole but a check fraud case. “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” the spokesperson said.
As the Chase unlimited money glitch craze settled, many users who attempted the fraudulent scheme were left in financial trouble. Some saw their accounts placed on hold for up to seven days, while others ended up with severe negative balances that put them in debt. Chase’s fraud detection system quickly flagged suspicious transactions and penalized accounts participating in the trend.
Users who participated in the viral trend now face serious repercussions, from frozen accounts to potential legal action. The state or Federation could prosecute check fraud, which could result in penalties of up to a $1 million fine and 30 years of federal imprisonment.
