Man who discovered ATM ‘loophole’ that gave him millions in cash for four months explains the worst part of it

Dan Saunders thought he’d hit the jackpot when he discovered an ATM glitch in 2011 that allowed him to withdraw unlimited cash. The Australian quickly amassed over $1 million AUD by exploiting the banking loophole, but soon found the windfall came with unexpected consequences.

It started during a night out when Saunders noticed an ATM behaving strangely. “I transferred another $200 and got the money out. Then $500, then $600, just to see what would happen,” he told Vice. He realized that by making new transfers to cover previous withdrawals before the bank could reverse them, he could effectively create an endless money loop.

While initially exhilarating – spending thousands on the first few days – the thrill soon faded. “I was gaining all these superficial things and experiences but knew I was losing the inner purpose of my actual morale,” Saunders confessed in a YouTube interview. The moral weight of his actions became increasingly heavy, especially as he never faced the people potentially affected by his scheme. “I haven’t met the victim, I haven’t met the software guy whose fault this was,” he admitted.

The stress eventually triggered an anxiety attack that led him to self-medicate. “It would’ve been very easy to just turn to valium or alcohol addiction,” he reflected. Saunders compared the experience to gambling addiction – exciting at first but ultimately empty. “At the start it’s so new and exciting… but eventually when you get to the end of it you’ve still got a love for it,” he said, acknowledging how the temporary thrill had overshadowed the personal costs of his million-dollar exploit.