A scam has emerged that impersonates the blockchain network 'GIWA' being developed by Dunamu, leading to the theft of investors' virtual assets. Financial authorities have issued a consumer alert, warning that scams utilizing unlaunched blockchain networks could spread.
The Financial Supervisory Service announced on October 22 that it has issued a consumer alert of 'caution' regarding a 'fake chain' scam that impersonates the blockchain network of a well-known virtual asset exchange.
This scam involved creating a similar fake network to lure investors before the official launch of Dunamu's GIWA network.
The scam organization spread false information about a 'sudden mainnet launch' through social media and online communities. They then created a fake remote procedure call (RPC) address, chain ID, and bridge that closely resembled the actual network to induce virtual asset transfers.
In this incident, the chain ID for the GIWA network is '91342', while the fake network used '9134'. The decentralized exchange (DEX) DYOR Swap mistakenly supported this fake network, leading users to deposit Ethereum into the fraudulent bridge. The scam organization then withdrew the virtual assets in bulk.
The Financial Supervisory Service emphasized that any bridge or smart contract supporting networks that are not officially launched or are still in development are 100% scams.
They particularly noted that DEXs lack centralized control over transactions, making asset recovery virtually impossible in the event of a scam.
A Financial Supervisory Service official stated, 'It is essential to verify the official launch status and source of new blockchain networks. Be cautious of unverified promotions such as sudden launches or airdrops, and immediately halt asset transfers if you have any doubts.'
* This article has been translated by AI.
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