Israeli-American Cybersecurity Firm Owner Indicted for Defrauding Clients
Summarized from Ynetnews by baba
Israeli-American Zohar Pinhasi, owner of Florida-based MonsterCloud, has been indicted in the U.S. for defrauding companies hit by ransomware attacks. His company allegedly promised decryption services but secretly paid hackers and overcharged clients. Hundreds of companies reportedly paid over $19 million in the scheme. Pinhasi faces charges for pocketing millions through these fraudulent practices.
The story in 5 lines · by baba
- Zohar Pinhasi, an Israeli-American owner of MonsterCloud, was indicted in the U.S. for defrauding clients.
- MonsterCloud allegedly promised ransomware victims file recovery without paying hackers.
- Pinhasi secretly paid hackers and charged clients significantly higher amounts for decryption.
- In one case, Pinhasi paid $8,200 to a hacker and billed a client $150,000.
- Hundreds of companies allegedly paid Pinhasi's company over $19 million.
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