Customers of the bank were able to write a sizable check to themselves, deposit it, and then take out the money before the check bounced thanks to what TikTok dubbed the “infinite money glitch.”
Courts in Houston, Miami, and Los Angeles are considering lawsuits against two people and two companies.
They must reimburse the money, together with interest, pay the associated overdraft fees, pay legal fees, and cover additional expenditures incurred by the bank.
“Chase takes its responsibility to combat fraud seriously and prioritises protecting the firm and its customers to make the banking system safer,” stated the bank.
Holding individuals accountable when they defraud Chase and its clients is a part of that duty. To put it plainly, bank fraud is illegal.
In one of the cases, a court document detailed how a guy wearing a mask put a $335,000 (£258,300) check into the defendant’s Chase bank account on August 29.
The defendant then began to take the money out, according to the court documents.
The lawsuit further stated that even after the check was ultimately returned as a fake, the defendant still owed the bank almost $290,000.
