Fake Bridge Scam Drains $2 Million from DYORSWAP Users
The crypto community was dealt a painful lesson in verification over the weekend when a fake bridge scam drained $2 million from 1,300 users.
The DYORSWAP exchange had integrated a fraudulent GIWA bridge contract that mimicked the real network's chain ID. Scammers created a convincing interface and convinced users to send funds, draining nearly the entire pool in just over 12 hours.
The fake bridge went live on Saturday evening, with scammers funneling the stolen assets into Tornado Cash within hours. The GIWA project, built by Upbit operator Dunamu, denied having a mainnet at the time of the incident.
DYORSWAP offered a 40% refund to users who bridged less than five ETH and has already paid out over 200 ETH from its own funds. The exchange is actively tracing the bridge deployer and suspected test wallets.