diff --git a/spec/integ/matrix-client-syncing.spec.ts b/spec/integ/matrix-client-syncing.spec.ts
index 0f92dc60d95..75487eb81dd 100644
--- a/spec/integ/matrix-client-syncing.spec.ts
+++ b/spec/integ/matrix-client-syncing.spec.ts
@@ -1543,6 +1543,52 @@ describe("MatrixClient syncing", () => {
                 });
             });
         });
+
+        it("only replays receipts relevant to the current context", async () => {
+            const THREAD_ID = "$unknownthread:localhost";
+
+            const receipt = {
+                type: "m.receipt",
+                room_id: "!foo:bar",
+                content: {
+                    "$event1:localhost": {
+                        [ReceiptType.Read]: {
+                            "@alice:localhost": { ts: 666, thread_id: THREAD_ID },
+                        },
+                    },
+                    "$otherevent:localhost": {
+                        [ReceiptType.Read]: {
+                            "@alice:localhost": { ts: 999, thread_id: "$otherthread:localhost" },
+                        },
+                    },
+                },
+            };
+            syncData.rooms.join[roomOne].ephemeral.events = [receipt];
+
+            httpBackend!.when("GET", "/sync").respond(200, syncData);
+            client!.startClient();
+
+            return Promise.all([httpBackend!.flushAllExpected(), awaitSyncEvent()]).then(() => {
+                const room = client?.getRoom(roomOne);
+                expect(room).toBeInstanceOf(Room);
+
+                expect(room?.cachedThreadReadReceipts.has(THREAD_ID)).toBe(true);
+
+                const thread = room!.createThread(THREAD_ID, undefined, [], true);
+
+                expect(room?.cachedThreadReadReceipts.has(THREAD_ID)).toBe(false);
+
+                const receipt = thread.getReadReceiptForUserId("@alice:localhost");
+
+                expect(receipt).toStrictEqual({
+                    data: {
+                        thread_id: "$unknownthread:localhost",
+                        ts: 666,
+                    },
+                    eventId: "$event1:localhost",
+                });
+            });
+        });
     });
 
     describe("of a room", () => {
diff --git a/src/@types/read_receipts.ts b/src/@types/read_receipts.ts
index 34f1c67fad7..3032c5934df 100644
--- a/src/@types/read_receipts.ts
+++ b/src/@types/read_receipts.ts
@@ -54,3 +54,11 @@ export type Receipts = {
         [userId: string]: [WrappedReceipt | null, WrappedReceipt | null]; // Pair<real receipt, synthetic receipt> (both nullable)
     };
 };
+
+export type CachedReceiptStructure = {
+    eventId: string;
+    receiptType: string | ReceiptType;
+    userId: string;
+    receipt: Receipt;
+    synthetic: boolean;
+};
diff --git a/src/models/room.ts b/src/models/room.ts
index 0faea02c371..15d54b3e0cd 100644
--- a/src/models/room.ts
+++ b/src/models/room.ts
@@ -54,7 +54,13 @@ import {
     FILTER_RELATED_BY_SENDERS,
     ThreadFilterType,
 } from "./thread";
-import { MAIN_ROOM_TIMELINE, Receipt, ReceiptContent, ReceiptType } from "../@types/read_receipts";
+import {
+    CachedReceiptStructure,
+    MAIN_ROOM_TIMELINE,
+    Receipt,
+    ReceiptContent,
+    ReceiptType,
+} from "../@types/read_receipts";
 import { IStateEventWithRoomId } from "../@types/search";
 import { RelationsContainer } from "./relations-container";
 import { ReadReceipt, synthesizeReceipt } from "./read-receipt";
@@ -302,7 +308,7 @@ export class Room extends ReadReceipt<RoomEmittedEvents, RoomEventHandlerMap> {
     private txnToEvent: Record<string, MatrixEvent> = {}; // Pending in-flight requests { string: MatrixEvent }
     private notificationCounts: NotificationCount = {};
     private readonly threadNotifications = new Map<string, NotificationCount>();
-    public readonly cachedThreadReadReceipts = new Map<string, { event: MatrixEvent; synthetic: boolean }[]>();
+    public readonly cachedThreadReadReceipts = new Map<string, CachedReceiptStructure[]>();
     private readonly timelineSets: EventTimelineSet[];
     public readonly threadsTimelineSets: EventTimelineSet[] = [];
     // any filtered timeline sets we're maintaining for this room
@@ -2721,7 +2727,7 @@ export class Room extends ReadReceipt<RoomEmittedEvents, RoomEventHandlerMap> {
                         // when the thread is created
                         this.cachedThreadReadReceipts.set(receipt.thread_id!, [
                             ...(this.cachedThreadReadReceipts.get(receipt.thread_id!) ?? []),
-                            { event, synthetic },
+                            { eventId, receiptType, userId, receipt, synthetic },
                         ]);
                     }
                 });
diff --git a/src/models/thread.ts b/src/models/thread.ts
index da8ddf0b1f8..25e454c32e2 100644
--- a/src/models/thread.ts
+++ b/src/models/thread.ts
@@ -27,7 +27,7 @@ import { RoomState } from "./room-state";
 import { ServerControlledNamespacedValue } from "../NamespacedValue";
 import { logger } from "../logger";
 import { ReadReceipt } from "./read-receipt";
-import { Receipt, ReceiptContent, ReceiptType } from "../@types/read_receipts";
+import { CachedReceiptStructure, ReceiptType } from "../@types/read_receipts";
 
 export enum ThreadEvent {
     New = "Thread.new",
@@ -50,7 +50,7 @@ interface IThreadOpts {
     room: Room;
     client: MatrixClient;
     pendingEventOrdering?: PendingEventOrdering;
-    receipts?: { event: MatrixEvent; synthetic: boolean }[];
+    receipts?: CachedReceiptStructure[];
 }
 
 export enum FeatureSupport {
@@ -317,17 +317,9 @@ export class Thread extends ReadReceipt<EmittedEvents, EventHandlerMap> {
      * and apply them to the current thread
      * @param receipts - A collection of the receipts cached from initial sync
      */
-    private processReceipts(receipts: { event: MatrixEvent; synthetic: boolean }[] = []): void {
-        for (const { event, synthetic } of receipts) {
-            const content = event.getContent<ReceiptContent>();
-            Object.keys(content).forEach((eventId: string) => {
-                Object.keys(content[eventId]).forEach((receiptType: ReceiptType | string) => {
-                    Object.keys(content[eventId][receiptType]).forEach((userId: string) => {
-                        const receipt = content[eventId][receiptType][userId] as Receipt;
-                        this.addReceiptToStructure(eventId, receiptType as ReceiptType, userId, receipt, synthetic);
-                    });
-                });
-            });
+    private processReceipts(receipts: CachedReceiptStructure[] = []): void {
+        for (const { eventId, receiptType, userId, receipt, synthetic } of receipts) {
+            this.addReceiptToStructure(eventId, receiptType as ReceiptType, userId, receipt, synthetic);
         }
     }