CryptoMediaClub
Wednesday, July 30, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Report: Bank Error Enables Unauthorized Cash Withdrawals

20.08.2023
A A
0
127
VIEWS
ShareShare

A software glitch within the Bank of Ireland’s systems has inadvertently granted customers the ability to withdraw funds that do not rightfully belong to them. This unexpected bug paved the way for individuals to send roughly $1,000 to digital banking applications, such as Revolut, even if their accounts held insufficient funds.

Once this seemingly surreal loophole was exploited, Bank of Ireland customers were able to access the transferred funds via ATMs. The Irish Times reported that once the news of this banking anomaly spread, it triggered a flurry of social media posts as people rushed to test its validity for themselves.

One anonymous customer recounted her experience to Vice, highlighting her astonishment when the unconventional hack worked seamlessly. She shared, “I left work and I had a load of texts on my phone saying ‘you can get free money from Bank of Ireland’. I tried it as a joke and it actually worked. I was going to give it back because obviously, they are all saying you have to… but I’m not getting paid until Thursday. So I booked to get full highlights done, [bought] a couple of t-shirts and some recording studio time… But right now on the app, it doesn’t say I owe anything. Even if I wanted to, I wouldn’t know how to pay it back now.”

In response to the fiasco, the Bank of Ireland has issued an apology for the blunder and intends to rectify the situation. The bank announced that all funds withdrawn under these circumstances would be categorized as debits on customers’ accounts, ensuring that the accounts are appropriately balanced.

In an attempt to provide context, the bank emphasized that the volume of transactions that occurred on the night when the issue was identified did not constitute a “significant proportion” of their average daily transaction figures. This assertion, however, does not diminish the magnitude of the incident’s impact, highlighting the critical importance of stringent software testing and maintenance procedures in the financial sector.

Ultimately, the unexpected software bug at the Bank of Ireland has led to an unforeseen situation where customers could withdraw unearned funds. While the issue is being addressed and transactions are being corrected, this incident underscores the need for robust software quality assurance measures to prevent such unintended financial loopholes.

The post Report: Bank Error Enables Unauthorized Cash Withdrawals appeared first on BitcoinWorld.

Share10Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
Bitcoin Plunges Amidst SpaceX Bitcoin Holdings Sell-off and Evergrande Bankruptcy

Bitcoin Plunges Amidst SpaceX Bitcoin Holdings Sell-off and Evergrande Bankruptcy

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Opinion: Crypto Has a Belief Drawback—Right here’s How We Can Repair It

Opinion: Crypto Has a Belief Drawback—Right here’s How We Can Repair It

5 months ago
Korean lawmakers rally toward crypto rules in May after grisly murder case: Report

Korean lawmakers rally toward crypto rules in May after grisly murder case: Report

2 years ago
GameStop Upsizes Convertible Note Offering to $2.25B — How Could BTC Benefit?

GameStop Upsizes Convertible Note Offering to $2.25B — How Could BTC Benefit?

2 months ago
Ripple CEO on Bloomberg: SEC Settlement Close, XRP Not a Security – Price Prediction

Ripple CEO on Bloomberg: SEC Settlement Close, XRP Not a Security – Price Prediction

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Billionaire Calls for Buying More Bitcoin as U.S. Debt Spirals – Best Wallet Automates the Strategy, ICO Hits $14.3M

SharpLink Secures 438K ETH, Spending $290M in Weeklong Buying Spree

Interactive Brokers Considers Launching Its Own Stablecoin

The Future of Bitcoin BTC Income: EarnMining App Offers Stable Daily Rewards

93% of Financial Institutions Plan to Implement AI Agents in Compliance

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys

Trending

Crypto Price Prediction Today 29 July – XRP, Cardano, Shiba Inu
All news

Crypto Price Prediction Today 29 July – XRP, Cardano, Shiba Inu

30.07.2025
0

The original crypto, Bitcoin, recently soared to a record-breaking all-time high price of $122,838 a fortnight ago,...

ChatGPT’s 28-Indicator XRP Analysis: 95% ETF Odds Ignite Battle Over $3.11 Support Line

ChatGPT’s 28-Indicator XRP Analysis: 95% ETF Odds Ignite Battle Over $3.11 Support Line

29.07.2025
StanChart predicts corporates will control 10% of Ethereum supply over time

StanChart predicts corporates will control 10% of Ethereum supply over time

29.07.2025

Billionaire Calls for Buying More Bitcoin as U.S. Debt Spirals – Best Wallet Automates the Strategy, ICO Hits $14.3M

29.07.2025
SharpLink Secures 438K ETH, Spending $290M in Weeklong Buying Spree

SharpLink Secures 438K ETH, Spending $290M in Weeklong Buying Spree

29.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz