At about 5 p.m. a user posted a series of three videos to Facebook, the first of which appears to show a man in a suit inside a bank, according to ABC affiliate WPLG.
The first video shows the man in the suit receiving what appears to be a pink envelope.
The next two videos show two men inside a car, with one of them claiming the other has a bomb.
Witnesses on Shore Drive told WPLG the man in the suit got on top of the car and started handing out the money to strangers.
"We saw a guy standing on a car throwing money out to people," one witness said. "He handed out all the money, threw the bag down and said 'By the way I just robbed a bank.'"
The man then tried to call law enforcement on himself, according to witnesses.
The two men were detained by officials while crews cleared the area to investigate the car, according to the Miami Police Department.
Family and friends of one of the men told WPLG he is a driver for a ride share service and was forced by the other man to go along.
Parts of Shore Drive were shut down while a bomb squad searched the car and secured the area.