Upbit: GIWA Chain Still in Testnet Phase, Warns Users Against Impersonation Projects and Fake Token Scams

Odaily reports: South Korean cryptocurrency exchange Upbit has issued an announcement stating that it has recently discovered bad actors impersonating the GIWA blockchain project, spreading false information about mainnet launch and digital asset issuance, and inducing users to transfer assets.

Upbit stated that GIWA is an Ethereum Layer 2 network being developed by its parent company Dunamu, and is currently running only a testnet. The mainnet remains in the development and preparation stage, with no official launch date announced yet.

Upbit reminds users to be wary of unconfirmed information regarding mainnet launches, token issuance, and investment opportunities, and not to trust unofficial channels that ask users to purchase digital assets, transfer funds, or connect wallets. Project updates should be based on information published on GIWA's official website and official social media channels.