Scammers Drain $2M From Ethereum Users With Fake L2 Chain

A sophisticated scam targeting Ethereum users has resulted in over $2 million lost. The scammers launched a fake L2 chain impersonating Giwa, an Upbit-backed project, and deceived some users into bridging their funds to the chain.

The fake chain used a Chain ID number of 9134 and included an OP stack-style infrastructure, a bridge, and a batcher. Over 1,335 addresses bridged funds to the contract, with approximately 766.25 ETH drained from these users.

DYORSWAP, a multichain decentralized exchange, initially identified the fake chain as the mainnet for Giwa. However, after detecting real movement on the chain and user transactions, it announced that users should not send funds to related addresses.

The real Giwa project clarified that it had not stealth-launched its mainnet, stating 'We DO NOT have our mainnet running currently.' DYORSWAP has started a reimbursement process for affected users, distributing over 200 ETH from its own funds.