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JPMorgan Chase filed four lawsuits in federal courts on Monday against customers who allegedly stole tens of thousands of dollars from the bank in an “unlimited money” stunt after a vulnerability in its ATM system was exposed and went viral over the summer.
Videos circulating on social media before Labor Day exposing a glitch in the bank’s system would allow customers some easy money, but in reality, it was fraud.
(Jeenah Moon/Bloomberg via Getty Images)
Several accounts on TikTok and other platforms touted the scheme that instructed Chase account holders to write themselves a large check (often in the tens of thousands of dollars), deposit it using a mobile device and then rush to the ATM and withdraw the funds before the check was cleared.
Some videos allegedly showed individuals celebrating their sudden riches, and others showed…
