Cryptocurrency security incidents target fake bridges and trusted hardware

Recent cryptocurrency security incidents have highlighted vulnerabilities in both fake infrastructure and trusted hardware systems. In one incident, attackers used a counterfeit Layer-2 environment mimicking the GIWA network—an Ethereum-based network associated with Dunamu—to drain approximately $2 million in Ether from roughly 1,335 addresses. The fraudulent bridge utilized legitimate-looking chain information, including Chain ID 9134, to deceive users.

In a separate matter involving the Bitget exchange, Circle and Tether moved to freeze assets linked to a major hack. Additionally, security exploits involving the Coldcard hardware wallet and the Liquid Network sidechain have resulted in unauthorized transfers totaling nearly $500 million. Unlike historical exchange hacks, these incidents targeted systems designed to provide users with self-custody and high-level security, undermining the principle of individual control over digital assets.