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Yes this was covered not long ago. Back a year or two ago these were made by GM's when they removed all the checks in the game that where over 1000000 in value. In most cases the checks were just converted to normal checks and left in place of the large checks. But in some cases the GM's took the over sized checks and left the red check and the owners were to contact the gms and have there checks converted.
Short story the red checks were left to people that GM's wanted to question be for deciding if they were getting there large checks converted or there accounts caned. Many accounts got band for the over size checks and the red box and checks were not meant to be movable. So most likely the ones out there that are movable probably came from IDOC's or some kind of exploit.
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Actually it really may not explain what the OP is talking about. I have two player crafted red crates with red checks in them. Each red check says a bank check and is valued at 1, and they both weigh 255+weight of crate. Both crates are crafted by Einstein. I got them last year on Europa at an idoc that no one else bothered to be at.
Also I'd like to point out that no one got banned just for having oversized checks. I sold a keep and had a 40m check from someone sitting in a bag that was supposed to get converted and instead I got nada for it, except that bag that sat on top that had some text on it, I forget what. It took a while but eventually I got reimbursed. The people who got banned were people who were duping those checks among other things.
The red checks were replacement checks so that a single check didn't get replaced with 50 or whatever number checks that may throw someones lockdowns off or oversuff their bank. I did hear tho I dont' know if it was confirmed that there was some kind if issue with people being able to just take those red checks out of other people's bags. I do know that the bag I had with the check in it had a new pouch or backpack or whatever on top with the text on it, and it was empty. So maybe someone nabbed my check and the GMs had to make me more, maybe it just vanished or decayed, who knows.