EDITOR NOTE: A number of Chase Bank account holders woke up one morning to see that they owed around $50 billion dollars. Fortunately, most found it more entertainingly annoying than frightening, several account holders taking to TikTok or Twitter to report their balances due to a Chase Bank glitch. Nevertheless, there’s something frightening about this scenario. What if the bank glitch affects only one or a handful of accounts, stating that they owe $10,000--a believable amount? How vulnerable is digital money to glitches--an internal problem--versus a cyberattack? And once the Fed gets the digital dollar off the ground, where some people may have only one bank account directly with the Fed, how vulnerable is the Fed’s system to glitches and cyberattack (that’s a lot of trust riding on one institution). Actually, if, in the future, you do have a digital dollar account and wake up one morning to see you owe over $226,000, then you can be certain that is not a glitch. As a taxpayer, you actually owe that amount, along with every other US taxpayer. And in the future, the greater your debt, the less potency in your dollars--a case for holding physical gold and silver as a hedge against the Fed’s prolonged glitch in the principles of economics.
TikTok users are claiming that a glitch involving Chase Bank is causing their accounts to appear as if they are $50 billion in debt.
The issue appears to have started over the weekend when screenshots and videos of the alleged glitch began to pop up online.
In one such video, TikTok user @thatcroclady claimed that she contacted Chase over the issue and was told that she would receive a response on either Monday or Tuesday.
In a follow-up video on Monday, @thatcroclady said the problem had begun to be rectified after her account balance was changed to $0.
Another TikTok users reported similar circumstances, showing video of her friend’s account being around $49 billion in the red.
“We went out to the bar and Maddie checked her phone when we got home and she’s -$50 billion dollars in debt,” @gabefloress said.
One user even filmed themselves calling the bank’s automated service to have their account balance read.
“Listen to this bullshit!” the woman in the video says. “This is Chase.”
Reports of the glitch weren’t just relegated to TikTok. Multiple users across Twitter also claimed to have experienced the multi-billion dollar issue.
“Hey @Chase why is my account negative 50 billion dollars?” @fasano_danielle tweeted.
— Danielle Fasano (@fasano_danielle) June 19, 2021
— nic (@moravaginelol) June 20, 2021
While the majority of reports surrounded users appearing to lose money, at least one account holder claimed to have received $50 billion.
“Chase accidentally put money in my account again,” @CasJackson tweeted. “This time, $50 billion. Just gotta wait 78 years to ball you broke boys.”
The Daily Dot reached out to both the bank’s customer support line as well as its press office to inquire about the alleged glitch but did not receive a reply by press time.
Such an issue would not be unprecedented. Just last year Chase admitted that a technical issue caused thousands of account holders to see incorrect balances as well.
Original post from The Daily Dot