Without more context, we can't say for sure. English phrasal verbs can mean many different things in different sentences, so everything depends on the context.
In the context of a game or puzzle or some kind of mystery, if you 'give it away' you give people a clue to what the answer is. It is no longer a secret if someone or something has 'given it away'.
'Give it away' can also mean give something to someone without charging money.
But please, give us more context!