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Israeli-American Cybersecurity Firm Owner Indicted for Defrauding Clients
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.
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What happened
- 01Zohar Pinhasi, an Israeli-American owner of MonsterCloud, was indicted in the U.S. for defrauding clients.
- 02MonsterCloud allegedly promised ransomware victims file recovery without paying hackers.
- 03Pinhasi secretly paid hackers and charged clients significantly higher amounts for decryption.
- 04In one case, Pinhasi paid $8,200 to a hacker and billed a client $150,000.
- 05Hundreds of companies allegedly paid Pinhasi's company over $19 million.
Hundreds of companies reportedly paid over $19 million in the scheme. Pinhasi faces charges for pocketing millions through these fraudulent practices.
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