ETH Scammers Drain $2M from Fake GIWA Bridge on DYORSWAP

DYORSWAP, a decentralized exchange (DEX), fell victim to scammers who stole approximately $2 million in Ether (ETH) from a fake bridge for GIWA, an Ethereum layer-2 network developed by Upbit operator Dunamu.

The scammers created a fraudulent bridge that mimicked GIWA's mainnet, leading DYORSWAP to mistakenly believe it was the actual mainnet. As a result, over 1,300 addresses sent more than 767 ETH to the fake bridge, with the scammers draining 766.25 ETH.

GIA, in a statement, clarified that its mainnet had not launched and warned users against connecting to purported mainnet details circulating online.

DYORSWAP has stated that it used its own funds to compensate affected users by paying more than 200 ETH.