Donate or Subscribe

Donate:

Make a one-time donation to support our work.

‘Infinite money glitch’ hoax goes viral among Black communities online

A masked man holds a “Black Lives Matter” sign outside a Chase bank, location and date unknown. Photo credit: Alamy.com

Viral videos have spread among Black communities online purporting to show an ‘infinite money glitch’ that allows users to exploit Chase Bank ATMs for seemingly unlimited funds.

  • One notable clip shows a group of Black males throwing two handfuls of cash into the air in front of a Chase bank.
  • Another clip shows alleged Black fraudsters in line at a Chase ATM in NYC.

Context: The alleged exploit involves depositing fake checks for large amounts and withdrawing funds before the checks are fully processed.

  • Despite being touted as a “glitch,” financial experts and law enforcement officials warn that this trend is nothing more than a digital-age revival of classic check fraud, potentially exposing participants to serious legal consequences.
Black males outside a Chase ATM in an unknown location. The males appear to be celebrating their ‘success’ with the ‘infinite money glitch.’ Photo credit: Screenshots via ITV News.

Zooming in: The proprietary Chase Bank ATM system appeared to have no pre-programmed limit, with some unverified videos showing fraudulent deposits in the hundreds of thousands of dollars.

  • Chase swiftly addressed the alleged “glitch,” and is now reclaiming funds erroneously dispensed
  • Subsequently, individuals who attempted to exploit the supposed glitch reported their accounts being frozen and hit with substantial negative balances.

Collateral Damage: James Travis, an established business owner and YouTube artist claims an apparently legitimate check was held up because of the ‘infinite money glitch’ fiasco.

  • Travis claims that a first-time client paid him by check, which he promptly deposited sometime in Early September.
  • Coinciding with the release of the viral ‘infinite money glitch’ videos, Travis’ typical activity of moving project money into business savings was apparently flagged as ‘suspicious’ by Chase.
  • It was implied this inconvenience could delay Travis’ ability to conduct business.
  • “It’s always good to have some savings in place for when those bigger projects are,” Travis said “they’re coming down the pipeline and I already have the cash ready to accommodate those types of clients.”
Social media users posted videos revealing their accounts had accrued thousands of dollars in debt after they tried to exploit the glitch. X/Twitter

Looking Ahead: It is unknown if James Travis’ situation was resolved, however general details on the overall situation are available:

  • As reported by the NY Post, Chase bank claimed, “We are aware of this incident, and it has been addressed.”
  • Financial advisor Jim Wang made a comment in the same article claiming, “Chase was pretty on top of it, within a day it was all fixed and the people that were doing this were seeing big holds in their accounts or huge negative balances.”

Why it Matters: While rumors swirl of legal action against those involved, it may be ideologically impractical in America due to a large amount of Blacks involved.

  • The mass-incarceration of Blacks on behalf of an international financial institution—regardless of guilt—could be perceived as antithetical to racially based, criminal justice reform.
External HTML Loader