2024 Commercial Bank of Ethiopia glitch incident
Financial glitch in Ethiopian bank / From Wikipedia, the free encyclopedia
On 15 March 2024, the Commercial Bank of Ethiopia (CBE) reported having glitching issues between 12 a.m. and 3 a.m. Customers were able to withdraw large amounts of cash (more than 40 million dollars) not deposited in their accounts, and were able to make unlimited ATM withdrawals. After circulated in social media, CBE released five notes within less than 24 hours, explaining the systematic failure in its branch services.
Quick Facts Date, Duration ...
Date | 15 March 2024 (2024-03-15) |
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Duration | 12 a.m. – 3 a.m (local time) |
Type | |
Cause | Under investigation |
Outcome |
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CBE President Abe Sano warned customers to return money saying "those who do not return money that is not theirs will be prosecuted".[3] On 26 March, CBE announced that about $14 million recovered.