Fake GIWA Bridge Costs Users $2M in ETH as DYORSWAP Mistakes Scam for Mainnet

Scammers walked away with roughly $2 million in Ether after a bogus bridge tied to a fake GIWA blockchain tricked users and the DEX DYORSWAP, which first believed it was the real mainnet.

DYORSWAP ETH Theft: How the Fake Bridge Worked

In a reconstruction shared on Monday, DYORSWAP said the fraudulent bridge took in about 767.65 ETH from 1,335 addresses. The attackers drained 766.25 ETH of that total.

DYORSWAP Compensation for Affected Users

The exchange said its own contracts were not compromised. It is tracing the bridge deployer, funding sources, suspected test wallets and the addresses that received the stolen funds. DYORSWAP also said it used its own money to pay more than 200 ETH to users who were hit.

GIWA Mainnet Not Live, Warns Dunamu

GIWA, the Ethereum layer-2 network built by Upbit operator Dunamu, said on Sunday that its mainnet has not launched. The team warned that mainnet connection details circulating online were false, stating that no mainnet is running at present.

GIWA Network Background

Dunamu released GIWA’s Sepolia testnet in September 2025 using Optimism’s OP Stack. In April, Dunamu, Hana Financial and POSCO International agreed to test a cross-border remittance system on GIWA Chain using real trade transactions.