Cyberattack on NJ School Forces Debt Sale to Cover Stolen Funds

A cyberattack that stole $4.8 million in taxpayer money has spurred a New Jersey suburb to issue short-term debt as officials try to recover the funds.

Spotswood, located roughly 40 miles outside New York City, was targeted by hackers last year in a scheme that involved the criminals accessing a school district employee’s email account and spurring the borough to erroneously send local school tax funds to a hacker impersonating the board of education.