Chase Infinite Money “Glitch”

It’s just fraud. September 03, 2024 [WEBSITE]( | [UNSUBSCRIBE]( While scams can drain your wallet in one swift move, there's another more subtle threat to your financial health: overconfident experts. Chase Infinite Money “Glitch” CHRIS CAMPBELL Dear Reader, Over Labor Day weekend, social media caught fire with a ridiculous trend—a so-called "infinite money glitch" at Chase Bank. Of course, this is part of a growing trend of scams in America. BUT… The Chase “money glitch” is probably the dumbest one. Here’s the gist: People figured out that if you deposited a check at a Chase ATM or through mobile deposit, a chunk of the funds would be available instantly, even before the check was cleared. So, folks started depositing fat checks, withdrawing the available cash, flaunting their “earnings” online like they’d broken through the Matrix. The problem with this so-called glitch? The checks were fake. When the checks bounced, Chase didn't just shrug its shoulders and say, "Oopsie! You got us!" Instead, they nuked the accounts and demanded that the money be returned. Worse, some people got duped into this by someone with a fake check who took half the money and bolted. The kicker? It’s a felony. And it’s ridiculously easy to prove. All the cops need is the paper trail—or the TikToks these geniuses posted themselves. Oh, and if you think that’s the only “glitch” floating around, think again. There’s a whole parade of scams out there. The Glue Scam: Scammers stick glue in the card reader at the Chase ATM. Then you have to tap your card to make the machine work. The catch? When you tap, it doesn’t automatically log you out. You have to do it manually. If you don’t? Someone will come up behind you and clean you out. (This scam has been going on for a year. Why Chase hasn’t fixed it is beyond us.) The Fake Pay-to-Park Scam: In San Clemente, people are getting scammed by “pay to park” signs on busy streets. You scan the QR code on the official-looking sign, and it takes you to an official-looking website. You put in your credit card info. Boom. Thanks for all the Louis Vuitton bags. The Phantom Package Scam: Others are receiving packages of items they never ordered. Sometimes this is to make fake confirmed purchase reviews on Amazon. Other times, however, it’s to get you to scan a QR code and infect your device with malware. The iPhone Family Plan Scam: Scammers use stolen identities to obtain family plans from mobile carriers like Verizon, AT&T, and T-Mobile. If the credit score is high enough, they sign up for the family plan at multiple stores in one day. They’ll get four iPhones on credit for $200 (taxes) at each store, then sell them for $800 to $1,000 each. They turn $800 into at least $12,800 in a day’s work. The SMS Blaster: Google has issued a warning about a new tool that scammers are using, known as the SMS Blaster. This small device, about the size of a cell phone, acts like a mini cell tower and can trick nearby phones into connecting to it instead of the legitimate network. Once connected, the scammers can bypass the phone’s security and flood it with spam messages, often leading users to click on harmful links. The good news? Android users can protect themselves by disabling the obsolete 2G network in their phone settings, which prevents the device from connecting to SMS Blasters. Unfortunately, iPhone users currently don’t have this option, making them more vulnerable to this type of attack. Google has advised that Apple may eventually provide a way to disable 2G, but until then, iPhone users should be extra cautious. There’s No Magic Bullet Unfortunately, there’s no magic gadget that can shield you from every scam out there. But here are a few tools and tips that can help: → Credit Report Flaggers: Use services like Credit Karma or Experian to keep an eye on your credit report. They’ll alert you to any suspicious activity. → Call Blocker Apps: Apps like Hiya or Truecaller can help block spam calls and identify potential scam numbers. → Anti-Malware Software: Keep your devices protected with reputable anti-malware software like Malwarebytes. It helps block malicious links and keeps your system clean. → Yubikey: I’ve mentioned this at least 40 times in these digital leaves, and I’ll mention it 40 more: Yubikeys will save your butt. Unfortunately, scams are a part of everyday life in America. From the classic bait-and-switch to more sophisticated digital cons, the landscape is littered with pitfalls for the unwary. The best defense? Stay informed, stay skeptical, and remember—if it sounds too good to be true, it probably is. But, scammers aren’t the only types you need to watch… While scams can drain your wallet in one swift move… There's another more subtle threat to your financial health: overconfident experts. For that, we invite Davis Wilson back to talk about how the experts can cost you the most. Read on. WARNING: Apple’s Coming “AiOS” Update? If you have an iPhone, then please pay close attention. Soon, your home screen could generate this strange-looking alert. Once it appears on your phone, get ready. Because the world of technology is about to change forever. [Click here now and see the shocking details for yourself.]( Beware: Overconfident “Experts” Could Cost You Money DAVIS WILSON “Artificial intelligence is overhyped.” This is what legendary hedge fund manager Paul Singer wrote in a recent letter to investors. Paul Singer is the founder of Elliott Management, which according to Elliott’s website, was founded in 1977 and “is one of the oldest investment managers of its kind under continuous management.” More on this tagline in a moment. Singer’s letter went on to say: Technology mega-caps, such as Nvidia, are in “bubble land” and he is skeptical that companies will continue to purchase Nvidia’s graphic processing units in such huge volumes. And… AI applications are not yet ready for “prime time,” with many expected uses likely to be cost-inefficient, unreliable, energy-intensive, or untrustworthy. Singer has a history of making controversial statements like this. Singer made a similar statement about crypto in a 2023 Wall Street Journal interview: He stated crypto is “completely lacking in any value,” while adding, “There are thousands of cryptocurrencies. That’s why they’re worth zero. Anybody can make one. All they are is nothing with a marketing pitch—literally nothing.” Singer‘s hedge fund returned just 4.7% in 2023, clearly missing out on the bull market in crypto and AI we saw last year. I don’t share these facts to minimize Singer or Elliott Management. I do, however, share these facts to caution you about blindly trusting the opinions of historically successful investors when they make statements regarding new technologies. Morgan Housel talks about the downfalls in his book, The Psychology of Money. He states: “We tend to over-admire people who have “been there, done that” regarding money, so we follow their advice even if it may not be applicable to the future. Experiencing specific events does not qualify someone to know what will happen next. This is especially true in investing. In fact, in investing, experience often leads to overconfidence more than forecasting ability.” If investing were a “hard” science, where the variables are known and quantifiable, you could certainly study historical data to accurately predict the future. Physics and geology are hard sciences, and from what I gather, physics hasn’t changed much in recent years. Sir Isaac Newton’s falling apple experienced the same gravitational pull as an apple that fell yesterday. Investing is a “soft” science, however. Its variables are difficult to measure. Investing is a massive group of people making imperfect decisions with limited information about things that will have a massive impact on their well-being. No amount of experience can predict this. Again, I don’t share these facts to minimize Paul Singer or Elliott Management. Singer has been a top hedge fund manager for nearly 50 years, according to his tagline. Unfortunately, this might also be his problem… He’s been a top hedge fund manager for nearly 50 years, so his experience has bred overconfidence, which has led him to believe he can forecast the futures of industries he clearly knows nothing about. This overconfidence has kept him out of artificial intelligence and crypto, both of which have seen life-changing returns and will likely continue to do so into the future. Now I ask you… Is this someone whose opinion you should trust regarding new technologies? Instead, listen to the technology experts here at Altucher Confidential. We certainly know artificial intelligence and crypto. Our returns are better than 4.7%, too. Until next time, Davis Wilson For Altucher Confidential Rate this email Like Dislike Thanks for rating this content! Looks like something went wrong. Please try to rate again. [CRITICAL] Announcing A Major Change To Your Subscription! I’m reaching out because I’ve just announced some exciting new changes to Altucher’s Investment Network. And as one of my readers, I wanted you to be one of the first to know, because this could impact your subscription in a major way. In short, I’m announcing 3 highly valuable new benefits for subscribers, along with an entirely new “Pro” level of service. 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