ThorChain Co-Founder Loses $1.3M in North Korean Deepfake Scam

THORChain co-founder JP lost approximately $1.3 million to North Korean hackers via a conference call scam on Telegram.

The scam targeted his forgotten Metamask wallet, which was still staking assets but no longer actively used.
Hackers accessed his encrypted iCloud and keychain, draining the assets without needing malware or passwords.
A deepfake video call was used to trick JP into merging his call, granting access to sensitive information.
ZachXBT noted that JP's products have previously benefited from laundering funds linked to North Korean hacks.
JP confirmed only the private keys in his Metamask were compromised; his Vultisig wallets remained secure due to multi-signature technology.

Rise of AI-Assisted Crypto Scams

AI-driven crypto scams surged by 456% between May 2024 and April 2025.
Scams include fake job offers, fraudulent Zoom links, and deepfake impersonations.
Even high-profile figures like JP are vulnerable to these threats.
MoonPay executives were similarly scammed for $250,000 through impersonation tactics.