Scammers steal $2M in ETH as fake GIWA network fools DYORSWAP
A scam bridge tied to a fake GIWA blockchain stole about $2 million in ETH from users, according to DYORSWAP’s reconstruction. The fake bridge received about 767.65 ETH from 1,335 addresses and drained 766.25 ETH. DYORSWAP initially mistook the setup for GIWA’s mainnet. GIWA is an Ethereum layer-2 network from Dunamu, the operator of Upbit. Dunamu later said GIWA’s mainnet has not launched and that any online mainnet connection details are false. The project’s Sepolia testnet went live in September 2025 using Optimism’s OP Stack. DYORSWAP said its own contracts were not hacked, and it is tracing the bridge deployer, funding sources, test wallets and recipient addresses. It also said it used its own funds to pay more than 200 ETH to affected users.
