The multi-chain decentralized exchange DYORSWAP has reported a significant security incident involving a fraudulent network masquerading as the GIWA Mainnet. According to an official statement released on September 27, 2024, attackers utilized a deceptive cross-chain bridge to siphon approximately 766 ETH (valued at over $1.9 million at current market rates) from unsuspecting users. The platform confirmed that the genuine GIWA Mainnet, a collaborative effort between the Optimism Foundation and Upbit, has not yet been officially deployed.
Exploitation of Chain ID and Fake Infrastructure
The scammers managed to bypass standard user skepticism by employing a highly sophisticated social engineering tactic. The fraudulent network was configured to use the real GIWA chain ID (9134), which made the fake environment appear legitimate to wallet interfaces and decentralized applications. Users were lured into interacting with a malicious cross-chain bridge under the impression they were migrating assets to the new ecosystem.
- The incident resulted in the loss of roughly 766 Ethereum (ETH).
- The attackers leveraged the official Chain ID 9134 to deceive automated tools.
- Verification confirmed the actual GIWA Mainnet infrastructure remains in the pre-launch phase.
Chain IDs are unique identifiers used by blockchain networks to prevent replay attacks; however, if a malicious node provider or fake network uses a legitimate ID, it can mislead users during the manual network addition process in wallets like MetaMask.
Response Strategy and Compensation Plans
In response to the exploit, the DYORSWAP team has initiated a multi-layered recovery and investigation process. The platform is currently working with blockchain security firms to track the movement of the stolen funds across the Ethereum network and secondary protocols. The goal is to blacklist the attacker’s addresses and preserve forensic evidence for potential legal action.
DYORSWAP stated that it is contacting security teams to track the flow of funds and preserve evidence, and will use treasury funds to compensate affected users. Specific plans will be announced after the investigation.
To mitigate the financial impact on its community, the project management announced that treasury funds will be allocated to reimburse those who lost assets through the fake bridge. Detailed eligibility criteria and the timeline for the compensation distribution are expected to be released following the conclusion of the internal audit.
The incident serves as a critical reminder of the risks associated with early-stage mainnet launches and the importance of verifying official communication channels from developers such as the Optimism Foundation before committing liquidity to new bridges. Investors are advised to await official announcements from verified primary sources to avoid interacting with counterfeit blockchain infrastructure.
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