Over $1 million seized by federal officials has been traced back to a cyberattack on New Haven Public Schools from over the summer.
Now, at least $4.7 million of the nearly $6 million stolen is expected to be recovered. Officials say the newly recovered funds were harder to pin down, as they were transferred multiple times.
The hackers scammed the Board of Education by impersonating a school bus company under contract with the city. They were able to change the bus company’s payment information to their own, using a fake email address.
This was the largest cyber fraud in the city’s history. About $1.2 million remains missing.
The theft is still being investigated by the FBI and U.S. Marshals Service.
