Look closely at the 'OpEx' line. That's where 90% of the airdrop went.

The $GRASS internal audit they didn't want you to see. Read the full breakdown below 👇 @grass

📢 To every node runner: you weren't a community. You were FREE LABOR with a token as a receipt they never intended to honor. RT this thread. Tag your favorite sleuths. Make sure no DePIN project ever farms its users like this again. @0xdrej — the community has one question: WHERE IS THE MONEY, ANDREJ? #GrassScam #DePIN #CryptoSleuth

🔥 THE $25M LIE They claim it costs $25M/YEAR to run the network. The network runs on hardware YOU provide for FREE. 🫵 Comparable ops spend 15-30% of revenue: ~$5-10M max. So the "expenses" are inflated by $15M+. Where is that money, Andrej? 🤔

🎩 THE OLDEST TRICK IN CORPORATE FINANCE "But where did $25M actually GO?" Watch the shell game: 1️⃣ Grass Foundation collects $34M from enterprise clients 2️⃣ Foundation pays ~80% in "operating expenses" to Wynd Labs 3️⃣ Wynd Labs is owned by... THE SAME FOUNDERS 🤡 Is this illegal? That's the genius part — on paper, no. A company CAN bill another company for services. But when both sides of the deal are the SAME people, they set the price at whatever they want. And they set it at a number that leaves the community CRUMBS. In finance this is called transfer pricing abuse. On CT we call it what it is: the money went from their left pocket to their right pocket. It never left the family. 💰➡️💰

🧮 THE MATH THEY HOPED YOU'D NEVER DO Bandwidth/proxy companies pay suppliers 40-60% OF REVENUE. That's the market rate. Not charity — the going price. Grass revenue: $34M Your fair share: $14M-$20M What you got: $3M (~8%) They didn't underpay you. They kept your salary. 💸

🤖 YOU'RE NOT A COMMUNITY. YOU'RE A COST. Founder Andrej said it himself: "The supply side is a cost." 6.29M people. 86 TB routed per day. And to him you're not partners — You're an UNPAID AWS BILL. Remember that framing. It explains everything below. 👇

🚨 THEY MADE $34M OFF YOUR BANDWIDTH. THEY PAID YOU $3M. The missing $20M+? Vacuumed into a company the founders own. And one question nobody can answer: WHERE IS THE MONEY, ANDREJ? An IB analyst breaks down the most cynical rug in DePIN — using their own numbers 🧵👇