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

An unidentified group of threat actors launched a fake L2 chain impersonating Giwa, a project backed by Upbit, identified by DYORSWAP, a multichain decentralized exchange. Over 760 ETH bridged to the chain were lost, and DYORSWAP announced a compensation process for affected users. Fake Giwa L2 Chain Deployment Scheme Causes Over 760 ETH in Losses […]

Fake GIWA Mainnet Drains 766 ETH Through Fraudulent Bridge A counterfeit Layer 2 environment used GIWA’s real chain ID to make a fake network appear legitimate, exposing a deeper weakness in how users verify blockchain infrastructure. W3 Meteor ID: GIWA-9282026-0622 Date & Time: September 27–28, 2026; the fraudulent network was deployed September 27 at 02:10:59 UTC+8, with the incident and investigation developing through September 28. (TokenPost) Origin: A fraudulent network impersonating GIWA Chain 9134 was created with a bridge and batcher resembling an OP Stack-based Layer 2. GIWA says its actual mainnet had not launched, while DYORSWAP says the counterfeit environment was used to move real ETH.

A counterfeit Ethereum layer 2 using Chain ID 9134 pulled in about 767 ETH from users who thought they were joining the Upbit-backed GIWA mainnet.

DYORSWAP users have lost a total of $2M in ETH after a fake version of UPbit’s GIWA chain was spun up by crypto hackers.

DYORSWAP paid 200+ ETH in compensation after scammers cloned a fake GIWA mainnet. Here's how the con worked and who's still at risk.

Scammers built a counterfeit version of Upbit-backed GIWA blockchain and lured 1,333 wallets into depositing 767 ETH, worth about $2 million, before draining almost all of it. The fake network appeared to be GIWA’s anticipated Ethereum Layer 2 mainnet, complete with an RPC endpoint, cross-chain bridge, and Chain ID 9134, the identifier associated with the […] The post Crypto scammers built an entire fake blockchain to steal over $2 million appeared first on CryptoSlate.

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Find out how the DYORSWAP incident led to losses of over 766 ETH through a fake L2 chain impersonating Giwa.