JP, co-founder of THORChain and Vultisig, reportedly lost around US$1.35 million in cryptocurrency.
- The attack was a multi-stage scam involving:
- A hacked Telegram account of a friend, which was used to send a fake Zoom link.
- A deepfake Zoom call (video impersonation) to make the setup appear legitimate.
- A suspected zero-day exploit or malware that allowed attackers access to private keys stored in iCloud Keychain and an old, forgotten MetaMask wallet.
Key Details
| Detail | Information |
|---|---|
| Amount lost | Approx. US$1.35 million |
| Wallet type | Old MetaMask wallet that was “forgotten” but still had staked / held funds; private keys stored in iCloud Keychain |
| Hackers suspected | Linked to North Korean actors reportedly. |
| Protocol / Vultisig security | The Vultisig wallets (multi-signature) were not compromised; only single-key wallet components were breached. CryptoRank |
Why This Matters
- Deepfake and conference call scams are getting more sophisticated; even prominent crypto figures are vulnerable.
- Storing private keys or seed phrases in cloud-linked services (like iCloud Keychain) can expose serious risk if those systems are breached.
- Single-key wallets (software wallets) remain a weak link versus multi-sig or threshold signature wallets that distribute trust.
What to Watch Going Forward
- Security experts will likely increase warnings about social engineering + AI tools + credential/identity spoofing.
- Cryptocurrencies and wallet providers may respond by emphasizing better wallet hygiene: cold storage, multi-sig, minimal key exposure.
- Regulators may take note and push for more mandatory disclosures or better standards for key security.
Conclusion
The THORChain founder deepfake Zoom scam underlines a growing threat landscape in crypto: AI-assisted impersonation, compromised accounts, and overreliance on cloud-based key storage. Though $1.35 million is a large sum, the larger lesson is that even seasoned insiders are not immune. Being proactive with wallet security and skeptical of unexpected digital requests remains crucial.
