Bank of America zeroes out customer accounts due to technical glitch

Financial institution of America (BoA) suffered a widespread technical outage on October 2, affecting hundreds of on-line banking clients.

Reported points embody clients being unable to entry their accounts, on-line accounts exhibiting zero balances, and points with on-line banking, cell apps and sure ATM machines.

The place is my cash?

Offended clients took to social media to complain and ask why their Bank of America The account has been cleared.

“The place is all my cash at Financial institution of America? It might be good if there was an evidence,” one buyer explain.

“It is not cool to make individuals really feel insecure about their cash.” Wrote One other consumer, one other mentioned:

“My cash is gone, however my debt continues to be there. Financial institution of America is horrible.

Greater than 18,000 energy outages had been reported, according to Go to the DownDetector web site. About just a few hours in the past, customers had been nonetheless reporting points, with one saying: “I made two on-line deposits and so they by no means reached my account. The place did the cash go?

A spokesman for the financial institution mentioned in a written assertion:

“Some clients are experiencing points accessing their account and stability data at the moment. These points are being addressed and have been largely resolved. We apologize for any inconvenience.

They didn’t elaborate on the main points or reason for the outage, and there have been no new updates from the financial institution on the time of writing. Financial institution of America’s assist web page about X is submerged Complaints and bot responses from buyer assist.

Entrepreneur and angel investor Daniel Stakleff mentioned Bitcoin solves this downside and suggested victims to take management of their cash.

🚨Breaking Information🚨:#bitcoin can prevent!

Over 17,000 Financial institution of America clients have reported account outages since midday at the moment 🔒🔥. Many individuals’s accounts had been fully locked out, and those that might log in discovered their balances had been $0.00 or woefully quick! 😱💀

what else… pic.twitter.com/cpLUCGSNIS

— Daniel Stakleff (@DanielStakleff) October 2, 2024

Financial institution blackouts are widespread

In 2019, an influence outage at a Wells Fargo facility prompted a system outage, leaving clients with out entry to on-line banking, cell apps and ATMs for a number of days.

Cyberattacks and IT outages have additionally affected programs and clients at HSBC, Capital One, TSB Financial institution and Commonwealth Financial institution of Australia over the previous few years.

On the identical time, the Bitcoin community has not skilled outages since 2013 and has an uptime of 99.98%. according to To BitBo. Nevertheless, the identical can’t be mentioned for different blockchains, e.g. Solana.