JPMorgan Chase is responding to social media posts in which some of its customers claim they are trying to take advantage of a “bank glitch” that amounts to simple check fraud.

“We are aware of this incident and action has been taken,” a Chase spokesperson said in a statement to PEOPLE and other news organizations.

The spokesperson declined to comment on the extent of the fraud or the sanctions for the accounts and customers involved.

But they warned: “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is simply fraud.”

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In recent days, social media platforms like X and TikTok have had many users talking about a so-called “glitch” at Chase, where customers were able to take far more money out of their accounts than they actually had by depositing counterfeit checks and then immediately withdrawing the funds from a Chase ATM before the check bounced.

(The practice is similar to check kiting.)

It’s unclear how many Chase customers actually tried to withdraw money using the bogus check “glitch.”

Some social media users also claimed to have huge negative account balances – in the tens of thousands of dollars – as a result of attempting to withdraw funds in this manner.