Fake GIWA network scam drains about $2 million in ETH

9/28/2026

GIWA scam drains $2M in Ether from DYORSWAP bridge See how the fake L2 fooled users, and how the DEX is tracing funds

A scam involving a fake GIWA blockchain network drained about $2 million worth of Ether from a bridge used by DEX DYORSWAP, according to the project’s Monday reconstruction. DYORSWAP said the fraudulent bridge received about 767.65 ETH from 1,335 addresses, and attackers withdrew 766.25 ETH. The exchange said its contracts were not compromised and that it is tracing the deployer, funding sources, suspected test wallets, and recipient addresses. GIWA, the Ethereum layer2 network developed by Upbit operator Dunamu, warned on Sunday that its mainnet has not launched and that online connection details claiming otherwise were false. DYORSWAP also said it used its own funds to compensate affected users with more than 200 ETH.