Upbit said it has identified fraudulent activity tied to the GIWA blockchain project, with bad actors allegedly impersonating the project and spreading false claims about a mainnet launch and digital asset issuance. The exchange said the scheme was used to lure users into moving their assets.
According to Upbit, GIWA is an Ethereum Layer 2 network being developed by its parent company, Dunamu. The project is currently operating only on a testnet, while the mainnet remains in development and preparation. No official launch date for the mainnet has been announced.
Upbit urged users to treat any unconfirmed claims about a GIWA mainnet launch, token issuance, or investment opportunity with caution. It also warned against relying on unofficial channels that ask users to buy digital assets, transfer funds, or connect wallets. The exchange said updates on the project should be verified through GIWA’s official website and official social media accounts.
South Korean cryptocurrency exchange Upbit said it has recently found fraudulent actors impersonating the GIWA blockchain project and circulating false information about a mainnet launch and digital asset issuance, while attempting to induce users to move their assets.
Upbit said GIWA is an Ethereum Layer 2 network being developed by its parent company, Dunamu, and that the project is currently operating მხოლოდ on a testnet. The mainnet is still in development and preparation, and no official launch date has been announced.
Users told to rely on official GIWA channels
Upbit warned users to be cautious about any unconfirmed information related to a mainnet launch, token issuance, or investment tied to GIWA. It also said users should not trust unofficial channels that ask them to purchase digital assets, transfer funds, or connect wallets.
The exchange said project updates should be checked against information published on GIWA’s official website and official social media accounts.
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