DYORSWAP Users Tricked into Sending $2 Million to Fake Bridge Contract

A multi-chain decentralized exchange, DYORSWAP, fell victim to a sophisticated scam over the weekend, resulting in losses of $2 million. The scammers managed to trick users into sending a total of 767 ETH to a fake bridge contract, which was later withdrawn and funnelled into Tornado Cash.

The spoofed bridge contract was deployed on Saturday at 6 PM UTC, and was drained just over 12 hours later. DYORSWAP admitted that the 'so-called GIWA Mainnet' it previously identified was actually a fake chain set up by scammers, using the same chain ID as the legitimate GIWA network.

The scam involved 'specific suspicious messages' that may have planted false information among the DYORSWAP community. The exchange offered users who had bridged less than five ETH a 40% refund, with addresses surpassing that threshold to be considered on a case-by-case basis.