Fake GIWA Ethereum L2 drains over $2M from 1,335 crypto wallets
Image: Bitcoin.com NewsScammers built a fake Ethereum L2 impersonating the unreleased GIWA mainnet, using the project's reserved chain ID 9134. The fraudulent chain included a cross-chain bridge, OP Stack compatibility and a transaction batcher. Decentralized exchange DYORSWAP mistakenly listed the fake network as legitimate GIWA, leading 1,335 addresses to deposit roughly 766.25 ETH worth over $2M. GIWA confirmed its mainnet had not launched, and DYORSWAP is compensating affected users from its treasury.
Key points
- Scammers built a fake Ethereum L2 impersonating the unreleased GIWA mainnet using its reserved chain ID 9134
- The fraudulent chain included a cross-chain bridge, OP Stack compatibility and a transaction batcher
- DYORSWAP DEX mistakenly listed the fake network as legitimate GIWA, leading users to deposit funds
- Roughly 766.25 ETH worth over $2M was drained from 1,335 user addresses
- DYORSWAP is compensating affected users from its treasury, having already distributed over 200 ETH
Why it matters
The incident shows fake blockchain infrastructure can pass initial legitimacy checks when using reserved project identifiers. Users face loss risk when third-party platforms mislabel unvetted networks as legitimate projects.
What's unclear
The identity and current legal status of the scammers who built and operated the fake GIWA L2
The specific technical method used to drain user funds from the fraudulent chain
Price context · ETH
At publication
$2,650.00
Now
$2,654.12
Change since
+0.16%
7 days · dashed line = publication
Sources · 2 publishers
Bitcoin.com News
Tier 2
Scammers Launch Fake ETH L2 to Steal $2M From Crypto Traders
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Bitcoin.com News
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
