Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts. Local media said long lines formed at cash machines across Ethiopia on Saturday after the problem was discovered at the Commercial Bank of Ethiopia.
NAIROBI, Kenya — Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts.
News of the glitch Saturday was spread on social media by university students, who withdrew much of the money, said the bank’s CEO, Abe Sano. The problem was caused by a “routine system update and inspection” rather than a cyberattack, Ethiopia’s central bank said in a statement.
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