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

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

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

In a reconstruction published Monday, DYORSWAP said 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, said on Sunday that its mainnet had not launched and warned that purported mainnet connection details circulating online were false.

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