JPMorgan Sues Over 'Infinite Money Glitch' Fraud

JPMorgan Chase has filed lawsuits against four individuals and businesses accused of exploiting a viral social media trend dubbed the 'infinite money glitch', which allowed them to fraudulently withdraw more than $661,000 from ATMs. The scheme involved depositing counterfeit checks and withdrawing the funds before the checks were flagged as invalid. The cases, filed in federal courts in Los Angeles, Houston, and Miami, highlight a Houston case where a masked accomplice allegedly deposited a $335,000 counterfeit check, allowing the withdrawal of nearly $291,000. JPMorgan is demanding the return of the funds, including interest and legal fees, and is cooperating with law enforcement to hold the perpetrators accountable. The bank has stated the glitch has since been resolved and emphasizes the importance of maintaining trust in the banking system by combating fraud effectively.