Idiots Who Tried TikTok’s Viral ‘Free Money Glitch’ at ATMs Are Getting Reported for Fraud

Last weekend, TikTok videos went viral that purported to amusement however to person escaped wealth from Chase Bank ATMs crossed the country. The method progressive depositing a cheque for a ample magnitude of wealth the idiosyncratic didn’t really person and withdrawing a smaller but important magnitude earlier thing officially cleared. In reality, the “glitch” was amended known arsenic fraud. And now, JP Morgan Chase has confirmed the slope is reporting the radical who committed the crimes to authorities.

“As with immoderate fraud-related issue, we reappraisal internally and notation to instrumentality enforcement arsenic appropriate,” a Chase spokesperson told the Wall Street Journal connected Friday. “Regardless of what you spot online, depositing a fraudulent cheque and withdrawing the funds from your relationship is fraud, plain and simple.”

It’s not wholly wide however galore radical whitethorn person tried this scheme, but the Journal describes it arsenic “thousands.” The viral meme got truthful fashionable that tens of millions of radical person watched TikTok videos astir the “glitch” astatine this point, according to the Journal.

One popular video connected TikTok features a pistillate connected the telephone trying to explicate to her parent that they’re letting radical get betwixt $40,000 and $50,000 for thing with this infinite wealth “glitch.” The parent is rightly skeptical and says she doesn’t privation her slope relationship closed, portion her girl insists her relationship won’t beryllium closed since it’s conscionable a glitch.

Some videos connected TikTok adjacent showed radical throwing wealth they’d ostensibly gotten done this method into the aerial successful celebration. But Chase told the Journal they’ve frozen immoderate accounts who tried it, though, again, the nonstop numbers haven’t been disclosed. And the slope is giving “surveillance footage and different accusation related to individuals” to police.

While determination were acold excessively galore radical who believed that this was a “glitch” that wouldn’t get them into immoderate trouble, the tide has surely turned astatine this point, with astir caller videos astir the ATM scam ridiculing radical who thought it was conscionable a loophole alternatively than cheque fraud.

“Only TikTok would alteration expansive larceny into a ‘life hack’ and rename cheque fraud arsenic ‘a glitch,'” 1 idiosyncratic connected X wrote aft the videos had started to spell viral.

The U.S. Postal Inspection Service besides tweeted “unlimited wealth glitch” with a monocle inspection emoji earlier this week, expressing skepticism.

“Don’t judge the TikTok trend, cheque fraud is simply a superior crime. You volition beryllium prosecuted. If it sounds excessively bully to beryllium true…” the relationship continued.

"unlimited wealth glitch" 🧐

Don’t judge the TikTok trend, cheque fraud is simply a superior crime. You volition beryllium prosecuted. If it sounds excessively bully to beryllium true…

— US Postal Inspection Service – Headquarters (@USPISpressroom) September 3, 2024