Upbit Warns of Fake GIWA Token Schemes as Network Stays on Testnet

Upbit warned users that impersonators are promoting a false GIWA mainnet launch and token issuance, while the Ethereum layer-2 network remains on testnet without a launch date.

Dunamu, Upbit’s parent company, is developing GIWA. The network’s mainnet remains in development and preparation, and no official launch date has been announced.

Upbit urged users to be wary of unconfirmed claims about a mainnet launch, token issuance or investment. It advised against following unofficial messages asking users to buy digital assets, transfer funds or connect a wallet, and directed users to GIWA’s official website and social media for updates.

The warning follows an earlier fake-bridge incident involving GIWA that drained more than $2 million from DYORSWAP users.