Debit card glitch costs New York City $17M in less than 3 days

(NewsNation) — Fraudsters siphoned $17 million over three days from ATMs in New York City after discovering a glitch in debit cards given to employees of a summer youth program.

The incident targeted the nearly 100,000 teens and young adults participating in the NYC Summer Youth Employment Program, according to the New York Times, which first broke the story.

The historically successful summer program helps New Yorkers, ages 14 to 24, with financial literacy and summer job opportunities.

Due to a system glitch, debit cards connected to summer workers' biweekly paychecks allowed ATM users to withdraw an unlimited amount of cash, regardless of their account balance.

Within hours, the hack was shared on social media and spread rapidly. Some workers were motivated to sell their cards, city