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Market News

THORChain Co-Founder Hit by $1.3M Scam Using Zoom Call Scam

JP Thor noted that while his MetaMask wallet was drained, his Vultisig wallets remained untouched.

Written By Jalpa Bhavsar Jalpa Bhavsar
Fact Checked by Dhara Chavda Dhara Chavda
Published 2025-09-12
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Last updated: September 12, 2025 6:51 PM
Published 2025-09-12
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Last updated: September 12, 2025 6:51 PM
Published 2025-09-12
THORChain Co-Founder Hit by $1.3M Scam Using Zoom Call Scam

John-Paul Thorbjornsen, “JP Thor,” Co-Founder of THORChain and Vultisig, was scammed out of about $1.3 million by North Korean hackers. The attack happened through a conference call scam involving a hacked Telegram account, a fake Zoom link, and even a deepfake video of a friend.

On X, on-chain analyst ZachXBT said, “JP is one of the people whose has greatly benefited financially from the laundering of DPRK hacks/exploits. So it’s a bit poetic he got rekt here by DPRK.”

The wallet likely belongs to @jpthor who had a private wallet compromised due to a fake meeting scam a few days ago.

JP is one of the people whose has greatly benefited financially from the laundering of DPRK hacks/exploits.

So it’s a bit poetic he got rekt here by DPRK. pic.twitter.com/T57RRJ0bbf

— ZachXBT (@zachxbt) September 12, 2025

How the Attack Happened?

Confirming the $1.3M loss, John emphasized that hackers gained access to old private keys stored in his iCloud Keychain, which allowed them to drain an old MetaMask wallet he had forgotten about. He emphasized that the attack required no transaction signing, pointing to the likelihood of a 0-day exploit.

https://twitter.com/jpthor/status/1965366373682491647

This is not the first time John has been attacked. On September 6, he revealed he was targeted on his Mac workstation. He noticed a strange pop-up, then heard the Finder “download” sound. 

A script was copying his entire Documents folder into a temporary directory, likely preparing it for upload. John disconnected from the internet, wiped his Mac, and reset it. He also decided to disable iCloud syncing for sensitive documents.

A few days later, he traced the breach back to the Zoom link from his friend’s hacked Telegram.

The Zoom link was official, and John even joined through his browser, not the app. He saw a deepfake video of his friend, but within two minutes, a malicious script had already been downloaded. That script started copying his iCloud Documents folder.

Lessons and warnings

Following the incident, John warned that private keys remain permanently unsafe, even when forgotten. He urged crypto users to abandon traditional wallets in favor of multi-factor wallets, which split key shares across multiple devices. John noted that while his MetaMask wallet was drained, his Vultisig wallets remained untouched.

Also Read: Radiant Hacker Moves $26.7 Million in Stolen Funds to Ethereum

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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TAGGED:Crypto ScamDeFi
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Jalpa Bhavsar- Senior crypto journalist at The Crypto Times
By Jalpa Bhavsar
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Jalpa Bhavsar is a Crypto Journalist with 3 years of experience in crypto, blockchain, AI, digital design, and crypto news reporting. She holds a B.Tech in Computer Science, bringing a strong technical foundation to her writing. Jalpa focuses on delivering clear, accurate, and engaging coverage of the latest trends and developments in the crypto and tech space.
Dhara Chavda
By Dhara Chavda
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Dhara Chavda is a Research Analyst at The Crypto Times. She covers U.S. crypto regulation — including the CLARITY Act and GENIUS Act — DeFi security and major protocol exploits, and investigations into crypto fraud and enforcement actions. Her work emphasizes primary sourcing and on-chain verification over secondary commentary. Dhara joined The Crypto Times in 2020 and has followed every major market cycle since — the 2021 bull run, the 2022 Terra and FTX collapses, the 2023 banking turmoil, the 2024 spot Bitcoin ETF launch, and the 2025–2026 regulatory cycle — first assigning and reviewing the desk's coverage, and now writing it herself. Her reporting has been cited by international outlets including TheStreet and Argentina's La Nación. She holds a Bachelor of Engineering in Computer Engineering from Gujarat Technological University (GTU), which informs her technical reporting on on-chain data, smart contract analysis, and protocol architecture.

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