THORChain founder suspected to be victim of $1.2 million exploit
The post THORChain founder suspected to be victim of $1.2 million exploit appeared on BitcoinEthereumNews.com.
A personal wallet said to belong to a THORChain co-founder has been exploited, leading to a loss of more than $1.2 million, according to security tracker Peckshield. The protocol has dismissed earlier reports on social platforms that claimed the breach affected its whole network. Web3 security platform ExVul Defender posted on X Friday that the attacker began moving funds two days ago. They reportedly sourced initial liquidity from a mixer before interacting with the THORChain network, making their first transactions at 06:41:47 AM UTC on Wednesday. Correction: This incident involved a user’s personal wallet being exploited, and is not related to @THORChain. 🙏 https://t.co/mACcL1WkPt — THORChain (@THORChain) September 12, 2025 On Etherscan, the wallet address, in conjunction with THORChain, has issued three bounty offers within two days of the hack, but so far, the attacker has not replied. ZachXBT: Victim is THORChain co-founder JP Replying to PeckShield alert’s X post, blockchain security sleuth ZachXBT identified the victim as John-Paul Thorbjornsen, also known as JP, co-founder of both THORChain and wallet application Vultisig. 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 According to ZachXBT, JP’s personal wallet was drained of about $1.35 million during a Telegram meeting call scam orchestrated by North Korean hackers on Tuesday. JP, and platforms linked to him, have previously been linked to financial benefits from laundering activity tied to DPRK-linked hacks, including the $1.5 billion in Ethereum tokens Bybit exploit executed in late February. “JP is one of the people who has greatly benefited financially from the…
Filed under: News - @ September 12, 2025 12:31 pm