A glitch in the Ethiopian state-owned Commercial Bank of Ethiopia (CBE) allowed its customers to withdraw unlimited amounts of money from their accounts, whether they could cover the withdrawal or not. $40 million was withdrawn before they caught the glitch.
Bank president Abe Sano said most of the people withdrawing money were college students. News of the glitch apparently primarily spread through students sharing the glitch with others. Efforts are still ongoing to collect the withdrawn funds, with many college students voluntarily turning their deposits over to the bank.