Scammers Steal over $2M by Creating Fake GIWA Blockchain

Scammers Launch Fake ETH L2 to Steal $2M From Crypto Traders

An unidentified group of threat actors launched a fake L2 chain impersonating Giwa, a project backed by Upbit, identified by DYORSWAP, a multichain decentralized exchange. Over 760 ETH bridged to the chain were lost, and DYORSWAP announced a compensation process for affected users. Fake Giwa L2 Chain Deployment Scheme Causes Over 760 ETH in Losses […]

Scammers steal over $2M by creating fake GIWA blockchain

Scammers built a fake GIWA Layer 2 blockchain using the project's reserved chain ID, draining roughly 766 ETH from over 1,300 wallets before the

Fake GIWA Network Drains 766 ETH After Users Bridge Funds to Counterfeit L2

A counterfeit network impersonating Upbit-backed GIWA collected nearly $2 million in ETH after users were directed to an unofficial RPC and bridge for a mainnet that has not launched. A total of 1,335 addresses bridged about 767.65 ETH into the fake network before approximately 766.25 ETH was transferred out. The fraudulent environment included an OP… Continue reading Fake GIWA Network Drains 766 ETH After Users Bridge Funds to Counterfeit L2

DYORSWAP Says Fake GIWA Network Moved About 766 ETH, Repaid Over 200 ETH

The team said 1,335 addresses bridged about 767.65 ETH into the fraudulent network and that affected users have received more than 200 ETH in reimbursements.