Florida cybersecurity owner charged with wire fraud over ransomware payments
US prosecutors allege a Florida cybersecurity executive secretly paid ransoms while telling clients he could decrypt their files without paying hackers.
What happened
Zohar Pinhasi, a US-Israeli national and owner of Florida cybersecurity firm MonsterCloud, has been charged with wire fraud.23
Prosecutors allege Pinhasi told clients his company could decrypt files without paying ransoms, but secretly paid hackers and charged clients far more than the ransom amounts.123
According to prosecutors, Pinhasi's firm collected over $19 million from clients while secretly paying more than $8 million to attackers.3
Prosecutors allege Pinhasi's firm collected more than $19 million from clients while paying out more than $8 million in ransom payments to hackers.3
Key points
- Zohar Pinhasi, a US-Israeli national who owns the Florida-based cybersecurity firm MonsterCloud, has been charged with wire fraud.23
- Prosecutors allege Pinhasi claimed his firm could decrypt ransomware victims' files without paying attackers, but instead secretly paid the hackers and charged clients more than the ransom amounts, pocketing the difference.123
What the coverage leaves out
- None of the outlets reviewed reported Pinhasi's response to the charges or any statement from his legal representation.
- None of the outlets reviewed detailed how many clients were affected or over what time period the alleged scheme operated.
- None of the outlets reviewed specified the court or jurisdiction handling the case in detail.
Why it matters
Sources (3)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Europe
- 1The RegisterGBPrivate
Ransomware fixer claimed he could decrypt files, allegedly defrauded clients instead
Middle East & Turkey
- 2The Jerusalem PostILPrivate
US-Israeli national charged with wire fraud after using cybersecurity company to pay off hackers
South Asia
- 3The Times of IndiaINPrivate