TikTok Exposes Forgotten 'Get-Rich' Schemes: PayPal, Coins, and ATM Glitches

In a recent TikTok video, various "get-rich-quick" schemes from the past were exposed, highlighting the ingenuity of scammers and the vulnerabilities of financial systems. One example was the PayPal reversal exploit of the early 2000s, where users could create multiple accounts and manipulate the system to receive refunds for money they never intended to send. Another notable scheme was US coin melting, where the value of the metal within coins exceeded their face value, leading to widespread hoarding. The video also details the ACH refund loop, which took advantage of delays in bank transfers, and the Chase ATM glitch, where fraudulent checks could be used to withdraw cash before detection. The video concludes by emphasizing the eventual closure of these loopholes and the severe consequences faced by those involved. The video's creator, Zuno, stated, "It was basically money duplication through timing and loopholes." While these schemes were successful for a time, they underscore the importance of robust security measures in financial systems and the risks associated with fraudulent activities.