- DYORSWAP said a network it had identified as GIWA Mainnet was a fake blockchain set up by scammers.
- The fraudulent network used GIWA’s correct Chain ID, 9134, making it appear legitimate during DYORSWAP’s initial verification.
- Coin Bureau reported that affected users transferred more than 766 ETH through the fraudulent bridge, with losses exceeding $2 million.
- DYORSWAP plans to use treasury funds to compensate eligible users after its investigation and loss-verification process.
DYORSWAP reported on Sept. 27, 2026, that a purported GIWA Mainnet it had previously identified as genuine was a fake blockchain set up by scammers. The incident matters because Coin Bureau reported that affected users sent more than 766 ETH through a fraudulent bridge, resulting in losses exceeding $2 million.
Fake network used the correct Chain ID
According to DYORSWAP, the attackers configured the fake network with GIWA’s correct Chain ID, 9134. That detail made the network appear legitimate during the exchange’s initial verification.
DYORSWAP said it had also identified suspicious messages and specific individuals in the relevant community who may have been involved in the incident. The exchange did not provide further findings about their possible involvement in the supplied announcement.
Coin Bureau reported that affected users transferred more than 766 ETH through the fraudulent bridge and that total losses exceeded $2 million.
Investigation and compensation plan
DYORSWAP said it had engaged professional security teams to conduct onchain tracing. The specialists are analyzing addresses, transactions and the movement of funds connected to the incident.
The exchange is also preserving evidence, including chat logs, remote procedure call information, bridge addresses and onchain transactions. After completing the investigation and verifying losses, DYORSWAP plans to announce compensation eligibility criteria, a verification procedure and a payout plan.
DYORSWAP said it intends to fund the compensation from its treasury. Until it provides further updates, the exchange urged users not to interact with unofficial RPCs, bridges or GIWA Mainnet contracts, or send funds to addresses associated with them.
GIWA says its mainnet has not launched
The GIWA project team separately confirmed that its main network had not yet launched. It rejected posts containing configuration data or RPC information purporting to relate to a live GIWA mainnet and urged users to verify smart contracts carefully before interacting with them.
Source: Incrypted
