Fake GIWA bridge drains $2M in Ether

A fraudulent bridge masquerading as infrastructure for GIWA—an Ethereum layer-2 network built by Dunamu, the operator behind Upbit—siphoned roughly $2 million in Ether after DYORSWAP, a decentralised exchange, mistakenly treated it as legitimate mainnet architecture.

DYORSWAP published a post‑incident breakdown Monday showing that 1,335 addresses deposited approximately 767.65 ETH into the counterfeit bridge. Attackers drained 766.25 ETH.

On Sunday GIWA issued a statement confirming that no mainnet exists and that circulating connection parameters are fraudulent. Dunamu brought GIWA's Sepolia testnet online in September 2025, built on Optimism's OP Stack. Separately, an April agreement between Dunamu, Hana Financial and POSCO International outlined plans to pilot a GIWA Chain remittance platform using live trade flows.

DYORSWAP confirmed that its own contracts remain intact. The platform is now tracking the bridge deployer, funding wallets, suspected test accounts and destination addresses. DYORSWAP has already distributed more than 200 ETH to affected users, drawing the compensation from its own reserves.