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Pi Network Faces $10M Lawsuit Over Alleged Fraud Claims

Pi Network Faces $10M Lawsuit Over Alleged Fraud Claims

Author:

Global Cryptocurrency

Published:

2025-12-10 11:54:43

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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN] PI News -

Pi Network is embroiled in legal turmoil after a U.S. investor filed a $10 million lawsuit, alleging a multi-year fraud scheme. The complaint, submitted in the U.S. District Court for the Northern District of California, accuses SocialChain Inc., Pi Community Company, and Pi Network executives of causing $2 million in losses through unauthorized token transfers and misleading price data.

Crypto researcher Dr. Altcoin has dismissed the lawsuit as "deeply flawed," arguing that the price drop claim—from $307.49 to $1—is baseless since PI tokens have never traded above $3. The case has sparked intense debate within the Pi community, with skepticism growing over the validity of the allegations.

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