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Cybersecurity firm owner charged with fraud over secret ransom payments

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MonsterCloud owner Zohar Pinhasi has been charged with wire fraud by U.S. prosecutors. Authorities allege he deceived clients by promising to recover their data from ransomware attacks without paying ransoms. Instead, he secretly paid the hackers himself and then billed the clients inflated fees. Pinhasi reportedly collected over $19 million from clients while paying out more than $8 million in ransoms.

Read the full story at Times of India

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