JPMorgan Chase Sues Clients Alleged Theft Over ‘Endless Money’ Viral Phenomenon

Back in August, TikTok users learned of a so-called “infinite money glitch” that allowed Chase customers to withdraw money from their accounts before checks bounced. Now JPMorgan Chase is taking action against some of those clients.

According to CNBC, the banking giant has filed lawsuits in three federal courts, targeting those who withdrew the largest sums by taking advantage of the technical glitch. There are apparently thousands of possible cases, although the bank did not disclose how much money it lost during the outage.

In one case in Houston, a bank is demanding $290,939.47 from one man after an accomplice deposited a fraudulent check for $335,000 into an ATM. “On August 29, 2024, a masked man deposited a check into Defendant Chase’s bank account in the amount of $335,000,” the bank said in a statement. “Once the check was deposited, Defendant began withdrawing the vast majority of the illegally obtained funds.”

The remaining lawsuits are in the courts, including cases in Miami and the Central District of California. JPMorgan says those clients owe between $80,000 and $141,000, but most of the cases the bank is handling reportedly involve much smaller amounts.

“Fraud is a crime that affects everyone and undermines trust in the banking system,” JPMorgan spokesman Drew Pusateri said in a statement to CNBC. “We investigate these cases and actively cooperate with law enforcement to ensure that if someone commits fraud against Chase and its customers, they are brought to justice.”