GoKawiilMonsterCloud CEO Indicted Over Alleged Ransomware Payment Scheme
Federal prosecutors have indicted Zohar Pinhasi, CEO of cybersecurity firm MonsterCloud, alleging his company charged ransomware victims millions of dollars for proprietary decryption technology that did not actually exist. According to the indictment, MonsterCloud instead secretly paid hackers a much smaller sum to obtain decryption keys, while telling clients it had cracked the encryption itself.
GoKawiil's interpretation of the reporting above, not reported fact.
If proven, the case would show a cybersecurity firm allegedly exploiting victims' desperation during ransomware attacks rather than protecting them, undermining trust in incident-response providers that companies turn to during crises. It also raises questions about oversight of a lightly regulated industry where clients often cannot verify whether claimed technical solutions are genuine or simply concealed ransom payments.
- MonsterCloud CEO Zohar Pinhasi faces federal indictment over alleged fraud.
- Prosecutors say the firm falsely claimed to have a working decryptor.
- The indictment alleges MonsterCloud paid hackers directly while overcharging victims.
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Published there as: “Feds Say Ransomware Expert’s Miracle Cure Was Just Paying the Hackers”
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