Scammers Drain $2 Million Through Fake GIWA Blockchain

Scammers drained about $2 million in Ether (ETH) through a counterfeit blockchain that mimicked GIWA’s planned Ethereum Layer 2 mainnet, drawing deposits from about 1,333 wallets before nearly all the funds were removed.

The fake network included an RPC endpoint, a cross-chain bridge and Chain ID 9134. Operators later changed the bridge’s portal code and withdrew about 766 ETH in a single transaction.

GIWA Sepolia is the available testnet, using Chain ID 91342, while its mainnet remains under development. A chain ID can identify a network to a wallet but does not confirm who controls its RPC endpoint, bridge or contracts.

DYORSWAP said addresses that bridged less than 5 ETH would receive compensation equal to 40% of the bridged amount. Claims above 5 ETH will be reviewed separately, and DYORSWAP said it preserved RPC records, bridge addresses, transaction data and community communications during its investigation.