Oh... My... God...
So apparently yesterday this rumor was circulating on TikTok and Twitter across dozens of accounts that you could "hack" the ATMs at Chase Bank and pull out significant sums of money (one example being $30k). Turns out it wasn't so much of a glitch as it was... you know... felony fraud. Go figure.
New York Times
Experts say the “glitch” videos look an awful lot like check fraud — one of the oldest scams in the book.
Videos urging customers at the bank to take advantage of the “glitch” quickly took off online, prompting people to deposit fake checks for large sums of money. The glitch would credit some of the sham deposits to the customers’ accounts before the checks cleared.
Is this even a glitch at all?
Chase Bank, in all their wisdom, seemed to be purposefully giving their clients a line of credit on deposited checks. This allows for a better UX as clients can then withdraw or transfer their own money instantly rather than having to wait for the check to clear. However, what were they thinking in allowing these lines of credit to be so massive? I could see allowing a couple thousand dollars... Venmo does the exact same thing. But $30k? $40k? What's going on here?
If we watch the videos of people celebrating their "free money" it's very obvious they have absolutely no idea they've done anything wrong... let alone a felony crime. This truly is a failure on multiple fronts. Nobody understands how the money works by design. People have it in their heads that if no one is stopping them from doing something then it's okay to do it. It's crazy to see something like this go viral out of control like a wildfire.
At the same time it's also just depressing that people see something like $30k as a "life changing" amount; While at the same time also apparently spending that amount in a single day; finding themselves unable to pay back the money they stole. How did so many people think it was okay to do this? Ah well the Internet said so, and deep down these people subconsciously know that money is completely fake and it gets printed out of thin air, so why not?
Newsweek:
Under the surface there seems to be a lot more to this story. The first thing that a lot of news reports seem to ignoring is that Chase was also allowing some of these people to take out huge loans and instant withdrawals; something that never should have been allowed in the first place. Others still have been warning citizens to make sure to close out their ATM session immediately so that the person behind you can't perform operations using your credentials. Others still are saying this viral event could of happened as a smokescreen: The 'legitimate' scammers could have tried to obfuscate their own illegal activity by tricking so many others into performing the same type of action as law enforcement got wise to it.
Some people noted that the glitch was actually just check fraud and that those who had filmed and posted themselves doing or attempting it on social media could face serious repercussions.
"The internet is amazing," one person wrote on X.
"Never deleting this app"
Perhaps this is all just indicative of how broken the world is at the moment. Life is so unfair and lacking opportunity that people interpret literal theft as some kind of objectively fair "infinite money glitch" with zero ramifications. As technology continues to propel wealth to the upper-upper class we should expect this type of mentality to escalate; A sad but true state of affairs.
The level of stupidity keeps rising. 🤣🤣
As with all things this boils down to a matter of trust over intelligence.
People continue to trust the wrong sources because the system is so corrupt it can't be trusted itself.
💯 It’s like common sense and reasoning go right out the window.
“Free Money!! yay!!… Oh shit I’m in big trouble!!”
"Bank Error in your favour! Collect $30,000! Go directly to fraud investigation!"
On a serious note though, how the fuck did people not understand that this was never going to be free money? Now they're extra fucked because they were idiots and believed that... Writing a false cheque to themselves was some kind of money glitch?? How did that not immediately have huge red flag vibes for them? Obvious fraud is obvious.
It's such a crazy thing to have happened that nobody was sending out warnings during the viral spread (or they were just drowned out by the hype).
Yeah that's surprising and disappointing all in one lol. I hope they were just drowned out as at least then it means folks tried to help them not be idiots.
free cash + yolo = winner
im shocked none of you can see this
Maybe this a precursor to the upcoming CBDC's and inticing people to sign up for "free money"...
How many votes do you think Kamala will get when she personally orders the banks to take the loss? CNN will treat her like a saviour, and tens of thousands will start calling her St. Kamala.
I don't think I'm joking, either.
Edit: I am fully aware she doesn't have any authority to order banks to do anything of the kind, as are the banks and the media. Her faithful won't though.
OBEY AND THOU SHALL BE REWARDED
🤑
hahahaha the people believe everything that they see in tiktok, they never connect 2 neuron to create an own idea
Unfortunately, a few have the wisdom of not seeing anything free as free indeed without an aftermath. "Backfire in multiple folds".
To give fairness a chance, the economy has an impact on people's reasoning as well, but still not an excuse to do what we feel is right.
A lot of people know is not okay to do this but no one wants to say the truth as long as it favors them
Some people ain’t stupid
They know what they are doing but we still have some stupid ones too
Wow, that's just ridiculous! How quickly and easily we are manipulated these days...
Astounding. All I have to do to get people to give me money is show them my big knife and act stabby. They just give me all their money when I say 'Give me all your money!'
Free money!
Never giving up my big knife.
Thanks!
Imagine stealing money from a system that has you ID'd.
I'm waiting for when these people are indicted for fraud. How much crying and regret will come to them.
I don't think that's going to happen Chase just wants their money back without making a scene.
There's a racial/class element here that they aren't going to want to touch with a 10-foot pole.
Wow.
This was not what I expected.
People have become so stupid that they watch a video on check fraud and think it’s a glitch.
It’s like the movie Idiocracy all over again.
Your to kind to acquaint this with the money printer.
Every day, there seems to be another story, underscoring how the whole world seems to be gradually descending into Idiocracy.
On some level, I am afraid for our future.
Of course, the lure of "money for nothing" has pretty much always sucked in those who lack the capacity to engage in both/either critical thinking and consequential thinking. Still, the ability to grasp the reality that banks aren't just going to give you $30,000 is pretty fundamental.
And now we aren't even allowed to talk like this which is kinda funny in itself.
Interviewing "undocumented" people who crossed the border without due process, their explanation is "nobody stopped me". Legal is as legal is allowed, illegal is as illegal can be gotten away with.
The only comforting thing about this sad affair is that, at least judging by TikTok videos I have seen, most people who got involved appear to be young. So, they might learn a lesson or two and stay out of similar trouble in the future.