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Largest bank in Ethiopia hit by IT glitch that allowed customers to withdraw over $40 million The bank says that no charges will be brought against customers who return the money
techspot.com ^ | March 20, 2024 a | Rob Thubron

Posted on 03/23/2024 12:53:04 PM PDT by daniel1212

Customers of Ethiopia's largest bank had a nice surprise this week when a glitch allowed them to withdraw unlimited funds. More than $40 million was withdrawn from the state-owned Commercial Bank of Ethiopia (CBE) or transferred to other banks, and recouping it isn't going to be easy...

By the time the bank realized what was going on and froze transactions a few hours later, more than 2.4 billion Ethiopian birr (around $40 million) had been withdrawn or moved to other banks...

much of the money had been withdrawn by students. News that the CBE was giving away unlimited money spread across universities in the country via social media, messaging apps and phone calls,


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; News/Current Events
KEYWORDS: crime; cybertheft; hackers
Such reveals the nature of man, as it is not only what we do which manifests character, but what would do if given more, or had less. God only knows the whole of it, but allows man to manifest much.
1 posted on 03/23/2024 12:53:04 PM PDT by daniel1212
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To: daniel1212

Glitch my ass. I’m guessing inside job with outside accomplices.


2 posted on 03/23/2024 12:54:43 PM PDT by Lizavetta
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To: daniel1212

How are Ethiopian Customers taking $40 million each, even ten percent of what our politicians are doing to us?


3 posted on 03/23/2024 1:00:34 PM PDT by blackdog ((Z28.310) Be careful what you say. Your refrigerator may be listening & reporting you.)
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To: daniel1212

Go On Take The Money And Run


4 posted on 03/23/2024 1:00:58 PM PDT by NWFree (Sigma male 🤪)
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To: Lizavetta

“Glitch my ass. I’m guessing inside job with outside accomplices.”

Exactly.


5 posted on 03/23/2024 1:01:05 PM PDT by dljordan
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To: daniel1212

I’m thinking Nigerian Prince.


6 posted on 03/23/2024 1:08:23 PM PDT by AloneInMass (You'd think there would be more similarity between "chain letter" and "chain mail".)
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To: Lizavetta

much of the money had been withdrawn by students.



7 posted on 03/23/2024 1:38:34 PM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: PeterPrinciple

Those “students” are the bright future of the country.


8 posted on 03/23/2024 1:56:30 PM PDT by Marko413
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To: AloneInMass

I was thinking here come the emails. I am a Nigerian prince that came into a large sum of money from an Ethiopian bank but I need help getting it to my bank account….


9 posted on 03/23/2024 2:21:19 PM PDT by gunnut
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To: Lizavetta

Maybe I should open that mail about helping transfer millions from an Ethiopian Prince.


10 posted on 03/23/2024 2:25:36 PM PDT by midwest_hiker
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To: daniel1212
much of the money had been withdrawn by students.

The same students who created the "Glitch". ☺

11 posted on 03/23/2024 3:14:55 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: blackdog
How are Ethiopian Customers taking $40 million each,

They were not.

It was 40 million all together.

12 posted on 03/23/2024 3:26:54 PM PDT by Harmless Teddy Bear ( Roses are red, Violets are blue, I love being on the government watch list, along with all of you.)
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To: daniel1212

13 posted on 03/23/2024 3:35:24 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: SaveFerris

Yes, if not being a “feature.”


14 posted on 03/24/2024 5:37:11 AM PDT by daniel1212 (Turn 2 the Lord Jesus who saves damned+destitute sinners on His acct, believe, b baptized+follow HIM)
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To: daniel1212

Sounds like the government with illegals. It’s all FREE


15 posted on 03/24/2024 11:18:51 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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