Israeli-American Charged in US for Defrauding Cyberattack Victims
Translated & summarized from Ynet by baba
Israeli-American businessman Zohar Pinchasi has been indicted in the U.S. for allegedly defrauding companies hit by cyberattacks. His company, MonsterCloud, is accused of secretly paying hackers while charging clients exorbitant fees for file recovery. Prosecutors state hundreds of companies paid Pinchasi over $19 million for these services.
The story in 5 lines · by baba
- Zohar Pinchasi, an Israeli-American businessman, was indicted in the U.S. for defrauding cyberattack victims.
- His company, MonsterCloud, allegedly promised advanced decryption but secretly paid hackers.
- Pinchasi charged clients significantly more than the ransom payments he made.
- In one case, he paid $8,200 to a hacker and billed a client $150,000.
- Prosecutors estimate hundreds of companies paid Pinchasi over $19 million.
Zohar Pinchasi, a 50-year-old Israeli-American businessman who owns a cyber company in Florida, has been indicted in the United States on charges of defrauding companies that were victims of ransomware attacks. According to the indictment, Pinchasi's company, MonsterCloud, allegedly promised to restore files locked by hackers without paying them, using advanced decryption methods. In reality, Pinchasi secretly paid the attackers for the decryption keys and charged his clients significantly higher amounts. In one instance, he paid a hacker approximately $8,200 and billed the client about $150,000. Prosecutors claim that hundreds of companies paid him over $19 million.
