Publicly available court filings or official statements from JPMorgan Chase

JPMorgan Chase Sues Customers for $661,000 Over TikTok 'Infinite Money Glitch' Fraud

Oct 29, 2024, 12:00 PM

JPMorgan Chase, the largest U.S. bank, has initiated lawsuits against customers who allegedly exploited an ATM technical glitch known as the "infinite money glitch" to withdraw thousands of dollars. The glitch, which went viral on TikTok and other social media platforms, allowed individuals to access funds before deposited checks bounced. Lawsuits have been filed in federal courts in Los Angeles, Houston, and Miami, seeking to recover over $661,000 from four customers accused of check fraud. One case involves a Houston man who owes the bank $290,939.47 after an accomplice deposited a counterfeit $335,000 check. JPMorgan is investigating thousands of similar cases related to the glitch and is considering pursuing criminal charges for fraud. The bank seeks the return of the stolen funds with interest, overdraft fees, legal fees, and, in some instances, punitive damages.