Look how excited these kids were to exploit a "glitch" in Chase Bank's ATM system:
[Warning: Language]
Yes, there were rumors spreading on social media explaining an apparent glitch in Chase Bank's ATM system which allowed customers to withdraw ridiculous amounts of cash without actually having the funds to match the withdrawal. And a bunch of people actually went out and exploited the system bug.
According to social media users, some people exploited a system error to withdraw money after depositing fake checks into their accounts or after applying for large loans at Chase Bank ATMs.
Usually it takes days for a bank to verify a check, but this error allowed customers access to cash right away once the check was deposited. So they were just writing fake checks for thousands of dollars and then withdrawing the money.
And if that sounds like check fraud to you, then you're well on your way to understanding how this story ends.
A spokesperson for Chase Bank told Newsweek that the issue has been rectified, and some are now reporting that their accounts have massive negative balances or have had holds put on them.
‘We are aware of this incident, and it has been addressed,' the spokesperson said. ‘Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.'
Yes, these people were simply committing fraud. Not much of a glitch once reality kicks back in.
[Warning: Language]
Just think of the feeling these fraudsters have in their stomachs right about now. Thought they had something for nothing, and they ended up tens of thousands in the red.
Some [Chase customers] showed that they were now in massive debt, with one man reporting that his account showed he owes about $40,000. Other videos showed Chase imposed seven-day holds on affected accounts.
This is check FRAUD, people. So those of you who filmed yourselves committing this crime, and even those of you who didn't hit record, are gonna be in some trouble when all is said and done here.
P.S. Now check out our latest video 👇