Florida Cyber Firm Owner Charged in Alleged $19 Million Ransomware Payment Scheme
Zohar Pinhasi, owner of the Florida-based ransomware remediation company MonsterCloud LLC, has been charged with wire fraud in federal court in Brooklyn. Prosecutors allege that Pinhasi, also known as Zack Silver and Zack Green, secretly paid cybercriminals to decrypt clients' data, then charged his clients over $19 million for these services, falsely claiming to use proprietary technology. According to the U.S. Attorney’s Office for the Eastern District of New York, MonsterCloud marketed itself as an alternative to paying ransom demands. However, investigators found that Pinhasi would contact the hackers, pay their ransom, and then obtain the decryption keys. In one instance, Pinhasi allegedly paid $8,200 to a cybercriminal but charged the client approximately $150,000. Over the course of the alleged scheme, Pinhasi charged clients more than $19 million and made over $8 million in ransom payments. Federal prosecutors also claim MonsterCloud used paid spokespeople for testimonials, with Pinhasi reportedly ...
