Attackers shared an unofficial RPC and bridge address for the GIWA mainnet that appeared to proxy the real OptimismPortal contract but was controlled by a 2-of-2 Safe multisig. Both owners signed a transaction upgrading the bridge proxy to a malicious contract, extracting 766.25 ETH, then reset the implementation to the original OptimismPortal in the same transaction. Over $2M was lost. The stolen ETH moved to a single address and began being sent to Tornado Cash. The fake RPC still displays balances on the fake L2, though the backing ETH is gone. Users reportedly aped in without verifying sources, attempting to replicate a prior arc event.

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Thread · 8 events · started 19 Jul 12:01 · 1 disputed · last update 28 Sep 02:14 · quiet
  1. UpdateGIWA’s Ethereum L2 testnet gains ecosystem attention ahead of a planned showcase4 acc.
  2. UpdateGIWA launches Mainnet on chain ID 913414 acc.
  3. UpdateGIWA mainnet launches as GIWA Tiles prepares to migrate2 acc.
  4. UpdateGIWA mainnet RPC is reportedly down after launch4 acc.
  5. DisputedGIWA Chain approaches its planned mainnet phase7 acc.
  6. UpdateGiwa Chain accused of a fake-chain scam after users bridged funds45 acc.
  7. UpdateGIWA says its mainnet has not launched and warns of fake RPC claims14 acc.
  8. Leviathan published this article
  9. UpdateFraudulent GIWA Chain bridge drains about 766 ETH; DYOR compensates affected users13 acc.

All times UTC.

Cited posts

  • @0xKnownxd Known XdFirst reportOn X ↗

    Looks like the start of the Giwa chain was so crazy that people bridge over 2m$ on that.@poptyedev just confirm that was fake and the people who actually bridge there, got scammed. GG, THE HYPE WAS JUST UNREAL!

  • @0xEdwin999 EOn X ↗

    You just bridged to the fake giwa chain

  • @RaAres RaArΞs ⚓️On X ↗

    guys i think we really live in a matrix.. a matrix within crypto.. so today another absurd thing happened: a scammer managed to create an entire fake L2 of the chain from @official_upbit... → the fake GIWA mainnet → how ppl got baited → where the ETH went → the stupid part…

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  • @farazktwt farazOn X ↗

    another $2M scam 🙄 scammers spun up a fake GIWA mainnet using the real planned chain ID 9134 then they made a fake RPC and a fake bridge. people started bridging real ETH into it@GIWA_by_Upbit never launched mainnet. only the testnet (91342) was live so there was no RPC…

  • @StarPlatinum_ StarPlatinumOn X ↗

    This might be one of the smartest crypto scams I’ve seen in a while Someone basically created a fake blockchain and got real users to bridge money into it Here’s what happened: - GIWA is a legitimate Ethereum L2 connected to Upbit There was only one problem, GIWA mainnet had…

  • @thisisksa Karan Singh AroraOn X ↗

    CT was waiting for GIWA to launch. Scammers launched a fake GIWA chain instead, copied the real Chain ID and built a working bridge. Users sent real funds in. GIWA later confirmed the mainnet wasn’t live. $2M reportedly lost in a day. CT donated $2M. 💀

52 more accounts posted about this · 1 Telegram channel (no public link)

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