CryptoMediaClub
Wednesday, July 9, 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 The bank announced that all funds withdrawn under these circumstances would be categorized as debits on customers’ accounts, ensuring that the accounts are appropriately balanced.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

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

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

08.07.2025
0

Skip to content

Read moreDetails
Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

04.07.2025
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

03.07.2025
Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

30.06.2025
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

Bitcoin Price Prediction – Why Traders Are Watching the Next 48 Hours Like Hawks 

Bitcoin Price Prediction – Why Traders Are Watching the Next 48 Hours Like Hawks 

2 weeks ago
Bitcoin Mining Profitability Surges 29% in November Amid BTC Rally

Bitcoin Mining Profitability Surges 29% in November Amid BTC Rally

8 months ago

Crypto is Going Offshore Unless the US Changes Regulatory Stance: Coinbase CEO

2 years ago
https://bitcoinworld.co.in/45387-2/

https://bitcoinworld.co.in/45387-2/

2 years ago

Categories

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

Highlights

Revolut Launches Instant Money Transfers to China

New Zealand Bans Crypto ATMs, Sets $5K Cap on Transfers in Major AML Crackdown

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Trending

Suspected Exploit Hits GMX Exchange: Over $42M Drained from Vaults – DeBank Reports
All news

Suspected Exploit Hits GMX Exchange: Over $42M Drained from Vaults – DeBank Reports

09.07.2025
0

Decentralized exchange GMX is believed to have suffered a major exploit, with over $42 million in digital...

BioSig Raises $1.1 Billion to Tokenize Gold and Commodity Assets

BioSig Raises $1.1 Billion to Tokenize Gold and Commodity Assets

09.07.2025
Breaking: Emirates Airlines to Begin Accepting Bitcoin and Cryptocurrency for Flight Payments

Breaking: Emirates Airlines to Begin Accepting Bitcoin and Cryptocurrency for Flight Payments

09.07.2025
Revolut Launches Instant Money Transfers to China

Revolut Launches Instant Money Transfers to China

09.07.2025
New Zealand Bans Crypto ATMs, Sets $5K Cap on Transfers in Major AML Crackdown

New Zealand Bans Crypto ATMs, Sets $5K Cap on Transfers in Major AML Crackdown

09.07.2025
  • 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