With no suspect yet arrested, the motive for the killings has not been confirmed, but Karen Gustinger, a local horse lover and member of the Homestead Rodeo Association, is convinced the horses are being sold on the black market for meat.
"It's solely profit-driven. There's a black market down here for horse meat. My understanding is it's selling for $20 per pound and it ranges from people eating horse meat in other cultures to the rumor of horse meat being a miraculous medical discovery that cures all ailments."
Couto says the meat is definitely being harvested on the black market and for even higher than $20 per pound.
"The reason we know it's becoming an issue is that there are people living in rural areas who are having people drive up to them at their homes or on the street and asking if they want to buy horse meat... There are reports from a few of the law enforcement agencies out of Broward County saying the meat's going for up to $40 per pound," Couto said.
"Many people in the U.S. think horse slaughtering is only being done in Mexico and Canada.....slaughter and the black market trade is alive and well in Miami," he added.
According to Couto, some local ethnic groups believe that eating the horse meat is a cure-all.
"Miami-Dade is a melting pot and there are a lot of cultures here where it's OK to eat horse meat... Some nationalities think it helps with some ailments. They think that AIDS patients will be cured and will recover quicker if they eat horse meat. This is not true," Couto said.
Not only is the horse meat not a wonder drug like some falsely believe, but the meat being harvested is contaminated.
"These horses are being seen by vets on a monthly basis. Tranquilizers and even just a basic fly spray all are labeled not to be used on animals to be used in the food chain. People are spending a lot of money on contaminated meat that's going to make them sick," said Couto.
Though most think of palm trees and night clubs when they think of Miami, Couto paints a different picture.
"Miami-Dade isn't only about the beach and the sand," said Couto. "The majority of Miami is more in rural areas and our horse population is extremely high. It's the second most populated horse state in the country. It's horse country," he added.
Gustinger said local horse owners have taken up arms to protect their beloved pets.
"The horse community is getting edgy and very upset," Gustinger told ABC News. "We've started community watches, people are patrolling their yards with guns to the point where some of the horse owners are looking forward to it. They're starting to hunt these people... they want it stopped," she added.
"The fear that is in place right now for anyone that owns a horse in South Florida... people are having a hard time sleeping, worried that when they wake up in the morning they'll find a massacre in their barn," Couto said.
The Humane Society Society of the United States is offering a reward of $2,500 for information leading to the arrest and conviction of the person or persons responsible for these horrific acts.
"If the meat is being sold for consumption, that would be in violation of federal law," the Human Society's Dane told ABC News.