A wave of panic spread among Bank of America (BoA) customers when they found their account balances had dropped to $0 or were unable to access their accounts. The issue stemmed from a nationwide service outage.
Customers across the U.S. reported problems, with over 18,000 complaints filed in just one hour on Downdetector, a site that tracks real-time network outages. Reports started around 12:27 PM EDT, with 51% of issues linked to online banking, 47% to mobile banking, and 2% to ATMs.
BoA later stated that the network issues were “largely resolved,” according to CNN. However, some customers noticed that while their balances showed $0, their debts were unaffected. One joked, "My money’s gone, but my debt is still there. Bank of America sucks."
Social media reactions ranged from frustration to humor, with some turning the situation into memes and others highlighting Bitcoin as a more reliable alternative.
Meanwhile, in Russia, the Bank of Russia discussed the digital ruble, assuring that the new CBDC wouldn’t increase the money supply or cause inflation.
