Fake Chain Mimics Legitimate Network, Resulting in User Losses

In an official statement released on September 27, DYORSWAP detailed a sophisticated scam operation. The previously flagged 'GIWA Mainnet' has been confirmed to be entirely fabricated by malicious actors. The core of the deception lay in the fake chain's use of the legitimate GIWA Chain ID (9134), making it exceptionally difficult to detect during initial verification.

By exploiting this cloned network, the scammers set up a counterfeit cross-chain bridge infrastructure. Users attempting to transfer assets were misled into connecting to this fraudulent network, resulting in funds being drained to addresses controlled by the attackers.

DYORSWAP Initiates Comprehensive Emergency Response

Upon confirmation of the incident, DYORSWAP swiftly enacted a multi-pronged response to mitigate damage and support affected users.

Evidence Preservation and On-Chain Investigation

The platform's immediate priority was securing evidence. The team has engaged specialized blockchain security firms to conduct deep forensic analysis of the involved addresses and fund flows. Users who suffered losses are advised to preserve all relevant records, including:

  • Complete chat logs with suspicious applications or support channels
  • RPC endpoint information used for connection
  • Addresses of the fraudulent bridge contracts
  • All related on-chain transaction hashes (TxHash)

This documentation will be vital for the ongoing investigation and recovery efforts.

Treasury-Funded Compensation Plan Activated

In a significant move to uphold user trust and platform accountability, DYORSWAP has committed to using funds from the project treasury to compensate users who incurred losses in this event. This decision underscores the platform's commitment to user asset security.

The specific criteria and application process for compensation are currently being formulated. Officials stress that a thorough investigation and verification of victim identities and loss amounts must be completed first to ensure fairness and accuracy. The detailed compensation plan will be formally announced to the community once this verification process is finalized.

Critical Security Reminders for Users

This incident serves as a stark security reminder. When interacting with unfamiliar networks or cross-chain bridges, users must exercise extreme caution:

  • Do not rely solely on Chain ID for network verification; cross-check information from multiple official sources.
  • Maintain a skeptical stance towards newly emerged chains or bridge projects promising high returns.
  • Conduct test transactions with a minimal amount before committing significant funds.
  • Monitor official project channels for accurate security alerts and updates.