2 years of farming. 2 years of trust. All for a scam?
Time to expose
@irys_xyz ๐ซ
Grab your popcorn and enjoy the exposed game ๐ฟ
Iโm not just talking, Iโm here with the facts and proofs.
So let's start it
The game started when IRYS capitalized on the L1 hype (following Movement's success in Dec).
On Jan 30, the Testnet went live. But the real scam began 119 days later with the launch of Galxe tasks.
IRYS launched 3 daily tasks, costing 3
$G each. Thatโs 9
$G per user, every single day.
With ~300k users per quest: 300k users * 9
$G = 2.7M
$G tokens drained daily.
At the time,
$G price was $0.012: 2.7M * $0.012 = $32,400 profit per day.
These tasks ran for 61 days straight (until the Arcade NFT scam). $32,400 * 61 days = $1.976 MILLION.
They farmed nearly $2M from the community in just two months. ๐
And it doesn't end there๐
On July 18, the Arcade game developer launched a Genesis NFT mint without permission.
@morsyxbt immediately DM all the details to IRYS founder
@josh_benaron. Josh's response? "I'm looking into this." The reality? He took NO action.
Instead, 5 hours later - only after the scammer had successfully drained $69k - he finally tweeted about IRYS Arcade.
scammer address : 0x4E98388A6B094410222d2472A38605937890B031
After the Arcade rug, did they refund the users? No. They simply ended the tasks.
But the scam didn't stop there. Just 2 weeks later, IRYS again launched tasks on Galxe. 4 Daily Tasks & 10 One-time Tasks ๐
History repeated itself. 200k users grinded for ~100 days until the Nov 11 snapshot.
4 tasks = 12
$G cost per day, per user.
200k users * 12
$G = 2.4M
$G drained DAILY ๐ฉธ
With an avg
$G price of $0.009: Thatโs ~$21,600 profit per day.
Total looted over 100 days? $21,600 * 100 = $2.16 MILLION. ๐ธ
They did it again.
And we can't forget the 10 One-Time tasks. With 400k users, the scale is massive.
400k users * 3
$G = 1.2M
$G per task. That is ~$108k revenue from a SINGLE task. $108k * 10 tasks = $1.08 MILLION. ๐ต
If we sum the total amount then it's = $5.216 M๐ฐ
IRYS played the game very well. They successfully farmed the community for over $5M. ๐
Now, let's talk about the IRYS GENESIS NFT. ๐คก
They launched the Bitomo NFT campaign for 500 spots, running for over a month.
The big question is: Where is the winner list? Who knows who actually won? Y just launched a checker. No transparency. No public list, Nothing, Just a pure scam๐ซ
And after draining over $5M, what did
@irys_xyz give back to the community?
The Tokenomics are a joke. Only 8% allocated for Airdrop (which includes future incentives).That means at TGE, we are looking at a maximum of 4-5%. ๐
And that tiny 4-5% slice is diluted among everyone: โข Binance Alpha โข NFT Holders โข Kaito Yappers โข Discord Roles โข Telegram Users โข Galxe Users
But the real question is: Where are the Testnet users? The people who interacted for months? Ignored.
And for the Galxe users you farmed? Only the Top 10k are eligible. What about the other 300k users? You gladly took their fees, burned their money, and gave them NOTHING.
75k Binance Alpha users got 1,200
$IRYS each without any interaction. While the Galxe grinders were capped at 10k spots.
It is my open challenge to
@josh_benaron
If you have any guts, step up and answer these questions. Stop hiding behind vague tweets. The community deserves the truth.
I am requesting every big influencer on CT to raise thier vioice agatins this soft scam.
@EarnByAbhi @CryptoTeluguO @cryptoimsny2 @morsyxbt @Gautamguptagg @Crypto_Pranjal @Danishyt2255 @VaibhavguptaTF