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. The scheme highlights risks in cross-chain bridges.