'Infinite Money Glitch' Scam: Why JPMorgan Chase® Is Suing Customers
When it comes to banking, most of us know there's no such thing as "free money." But last August, some JPMorgan Chase® customers thought they'd found a secret hack — a so-called "infinite money glitch" — and now, the bank is taking them to court.
At first glance, it sounded like the stuff of urban legend: fake checks, instant cash, and social media videos showing people living it up. The reality? Far less glamorous — and far more litigious.
How the 'Infinite Money Glitch' Worked
The scheme centered around a loophole in Chase's ATM system. In late August 2024, customers who deposited fraudulent checks discovered they could withdraw cash immediately before the checks bounced. Normally, banks put a hold on suspicious deposits, but this time, the system glitched.
Word of this "infinite money glitch" spread like wildfire on social media. Suddenly, "get rich quick" took a whole new — and illegal — meaning. Hundreds of people allegedly tried their luck, pulling out tens of thousands of dollars, hoping in vain it would go unnoticed.
Chase Strikes Back
JPMorgan Chase didn't take long to react. After some internal investigation, the nation's largest bank began filing lawsuits against individuals they accuse of exploiting the glitch. The lawsuits, starting in October 2024, have continued to roll out, including fresh cases filed just this month in Georgia, New York, Florida, and Texas.
One recent case details a masked man depositing a $73,000 check into a Georgia Chase account on Aug. 29, 2024. Over the next few days, withdrawals totaling $82,500 were made — all before the check predictably bounced six days later. JPMorgan Chase alleges the customer now owes them $57,847.69.
The bank isn't just chasing big fish. According to CNBC, it's pursuing customers who allegedly stole less than $75,000, switching from federal court to faster-moving state courts. And letters demanding repayment have gone out to more than 1,000 customers since last fall.
What Happens Next?
JPMorgan Chase says it's still investigating and is working closely with law enforcement to recover the funds. A company spokesperson told PEOPLE, "We're still investigating cases of fraud and cooperating with law enforcement — and we'll do that for as long as it takes to hold fraudsters accountable."
For those wondering if bankruptcy could erase the debt — think again. Chase has already begun pushing back against customers who attempt to discharge the debts by filing bankruptcy, arguing that fraud-related debts shouldn't be forgiven.
A Costly Lesson
It turns out that what sounds like an "infinite money glitch" online often ends up looking a lot like grand theft in court. And no matter how slick a hack appears, banks tend to have better lawyers than TikTok has influencers.
If something seems too good to be true, it usually is — especially when your withdrawal receipts are being used as Exhibit A.
References: JPMorgan Chase Is Suing More Customers Allegedly Tied to the Viral 'Infinite Money Glitch' Scam | JP Morgan Chase Targeting More Customers Who Allegedly Used 'Infinite Money Glitch' to Steal Cash, Report Says | JPMorgan Chase Sues More Customers Who Allegedly Stole Cash in 'Infinite Money Glitch'
