MonsterCloud CEO charged over secret ransom payments to attackers

Zohar Pinhasi, owner of ransomware recovery firm MonsterCloud, has been charged with defrauding victims by secretly paying attackers for decryptors while claiming proprietary decryption technology. Prosecutors say the scheme ran from 2018 to 2023, with over $8 million in ransom payments and more than $19 million charged to clients.

• Pinhasi faces one conspiracy and two wire fraud counts
• Scheme allegedly ran from June 2018 to June 2023
• Over $8M paid to attackers, clients charged more than $19M
• In one case he paid $8,200 and billed the victim about $150,000