MonsterCloud CEO Zohar Pinhasi Accused of Defrauding Ransomware Victims

The DOJ accuses MonsterCloud CEO Zohar Pinhasi of secretly paying ransomware gangs for decryption keys while charging victims hefty recovery fees.

Zohar Pinhasi, owner of Florida-based ransomware recovery firm MonsterCloud LLC, faces federal charges over allegations that he misled businesses about how the company recovered encrypted data. Pinhasi, who also used the names Zack Silver and Zack Green, appeared in federal court in Brooklyn on October 7 to face charges over his company’s ransomware recovery services.

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According to the indictment (PDF), Pinhasi claimed MonsterCloud could recover encrypted files without paying a ransom. Prosecutors allege he instead paid the attackers for decryption keys and charged clients much higher fees.

Pinhasi faces two wire fraud charges and one count of conspiracy to commit wire fraud. If convicted on all three counts, he could face a maximum of 60 years in prison, with each count carrying a potential sentence...

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