The TikTok "Money Glitch" That Bankrupted Its Believers

In September 2024, a wave of TikTok videos convinced thousands of people that Chase Bank had a "money glitch" — deposit a fake check, withdraw the cash before it clears, and keep the money. As Asmongold puts it, the real mechanism was much simpler: "Short version is check fraud. And if you are dumb enough to actually do this, you will be financially ruined and likely go to jail for this."

The so-called glitch worked like this: users would deposit a large fraudulent check into their Chase account, then immediately withdraw the funds in cash from an ATM before the check bounced. Chase responded by placing seven-day holds on affected accounts, then clawing back the money — leaving participants with massive negative balances and frozen accounts. One customer who deposited $40,000 found himself on a seven-day hold, then posted an angry video complaining that the bank wouldn't let him steal from them. Asmongold's reaction: "I love how he gets mad at the bank for not giving him $40,000."

Why People Fell for It