Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff editor

Scammers steal $2M in ETH as fake GIWA network fools DYORSWAP

Latest NewsPublishedSep 28, 2026

DYORSWAP stated it paid more than 200 ETH in compensation, while Upbit operator Dunamu’s GIWA warned that its mainnet had not introduced.

Scammers stole about $2 million in Ether (ETH) from a bridge for a fake GIWA blockchain that decentralized exchange (DEX) DYORSWAP stated it initially mistook for the project’s mainnet.

In a reconstruction published Monday, DYORSWAP stated the fraudulent bridge received about 767.65 ETH from 1,335 addresses. The scammers drained 766.25 ETH.

GIWA, an Ethereum layer-2 network developed by Upbit operator Dunamu, stated on Sunday that its mainnet had not introduced and warned that purported mainnet connection details circulating online were false.

“We do not have our mainnet running currently,” the project wrote.

Dunamu introduced GIWA’s Sepolia testnet in September 2025 using Optimism’s OP Stack. In April, Dunamu, Hana Financial and POSCO International agreed to test a GIWA Chain-based cross-border remittance system using real trade transactions.

DYORSWAP stated its contracts had not been compromised and that it was tracing the bridge deployer, funding sources, suspected test wallets and the addresses that received the funds.

DYORSWAP stated it had used its own funds to pay more than 200 ETH to affected users.

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• Hackers
• Hacks
• Layer2
• Fraud
• Blockchain

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This article references reporting from cointelegraph.com.