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Zohar Pinhasi fraud case

Zohar Pinhasi fraud case

National · 2 updates

Florida ransomware expert allegedly sent over $8m in ransom payments

A Florida cybersecurity expert has been charged with fraud for allegedly misleading ransomware victims. Prosecutors say Zohar Pinhasi claimed his company could recover encrypted data without paying hackers but secretly sent over $8 million in ransom payments while charging clients more than $19 million. He faces three federal charges carrying up to 20 years in prison each.

Florida cybersecurity owner accused of secretly paying hackers over $8 million

Zohar Pinhasi, the owner of MonsterCloud, faces charges of wire fraud related to his cybersecurity business. Prosecutors allege he misrepresented his firm's capabilities to clients facing ransomware attacks. Instead of recovering data without ransom payment, he secretly paid attackers and charged clients significantly higher fees. Pinhasi allegedly collected over $19 million while paying more than $8 million in ransoms.