JPMorgan Chase Files Lawsuit Against Scammers After Viral 'Infinite Money Glitch'
Bank ATMs Dispensed Thousands by Mistake—Now Chase Seeks Repayment
JPMorgan Chase has initiated lawsuits against individuals accused of exploiting a technical glitch to steal thousands from its ATMs, following the viral spread of the so-called 'infinite money glitch' on social media.
This glitch, which gained traction on X and TikTok over the summer, reportedly allowed customers to deposit fake checks at ATMs nationwide and withdraw substantial sums before the checks bounced.
While the bank declined to provide specifics on the number of fraudulent deposits received or the total amount sought in recovery, a spokesperson did confirm four lawsuits filed in federal courts across Texas, Florida, and California.
“Fraud is a crime that affects everyone and erodes trust in the banking system,” Chase spokesperson Drew Pusateri told The Register. “We are pursuing these cases and actively working with law enforcement to ensure that anyone committing fraud against Chase and its customers is held accountable.”
One case involves Houston resident Timipah Ikemi, who allegedly owes the bank $290,939.47 after a counterfeit check was deposited into his account by an unknown accomplice. “On August 29, 2024, a masked individual deposited a $335,000 check into the Defendant’s Chase account,” the bank stated in its Texas filing, as reported by CNBC. “Following the deposit, the Defendant began withdrawing the majority of the illicit funds.”
Additional lawsuits have been filed against Micah Reed in California’s Central District and two other entities—In and Out Appliances LLC and Riskboss Musiq LLC—in Florida’s Southern District. According to CNBC, the amounts at issue in these cases range between $80,000 and $141,000 owed to the bank.