Zohar Pinhasi, owner of MonsterCloud, has been charged with wire fraud for deceiving ransomware victims by claiming his company could decrypt their data using proprietary tools, when in reality he was secretly paying ransoms to attackers. He allegedly paid over $8 million in ransoms while charging clients more than $19 million, in one case paying $8,200 to a ransomware group but billing the victim $150,000. Pinhasi now faces wire fraud and wire fraud conspiracy charges that could result in decades in prison.
