Scammers convinced DYORSWAP to integrate a fake version of the upcoming GIWA blockchain, making it look legitimate to users. More than 1,300 wallets then sent roughly 767 ETH (about $2M) to a spoofed bridge contract, which was quickly drained and routed through Tornado Cash.
Key findings
- Attackers tricked DYORSWAP into integrating a spoofed “GIWA” chain, causing users to bridge funds to a fake contract.
- The fake chain reused the real GIWA chain ID (9134) to look legitimate during initial checks.
- Over 1,300 addresses bridged ~767.65 ETH, and the bridge was drained about 12 hours after deployment.
- Funds were withdrawn by the scammers and routed into Tornado Cash.
Who’s being targeted
- Commonly targeted roles: Crypto/DeFi community managers, Partnerships/BD and integrations teams, Support teams handling user reports, End users/customers of crypto platforms.
- Affected industries: Cryptocurrency / DeFi, Fintech.
- Attack channels: website.
- Impersonated: GIWA (Powered by Upbit) / GIWA bridge.
Awareness takeaways
- Treat ‘new network launched’ announcements as untrusted until confirmed through official channels (project website and verified accounts).
- Don’t rely on “it looks right” technical identifiers (like matching chain IDs) as proof something is legitimate, use verified source-of-truth lists and signed announcements.
- Be cautious of community ‘tips’ and hype-driven messages that push users to act quickly (FOMO), especially around bridges and deposits.
Red flags to watch for
- Mainnet announcement appears before official confirmation from the project
- Bridge/chain legitimacy is based on superficial checks (e.g., matching chain ID) rather than verified official sources
- Urgency/FOMO language encouraging users to act quickly to be 'early'
Read the video transcript
Imagine DYORSWAP showing: “GIWA mainnet is live, bridge now to get in early.” Over 1,300 wallets believed that. But DYORSWAP later admitted that GIWA mainnet was fake. Scammers spun up a spoofed GIWA chain, even copied the real chain ID 9134, and got it integrated so users sent 767 ETH straight into their fake bridge contract. Here’s the trap: everything looked right. GIWA name, GIWA logo, chain ID 9134. FOMO did the rest, “bridge now to be early”, and twelve hours after deployment, the fake bridge was drained and funds pushed through Tornado Cash. Your move: if a new chain or bridge claims to be live, pause. Before you bridge a single token, go to the project’s official website or verified accounts and confirm the launch and the exact bridge address yourself.