Pi Network Under Fire: Scam Allegations Emerge as PI Token Experiences Wild Price Swings

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-20 08:36:17

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Pi Network, once hailed for its rapid growth with more than 12 million users worldwide, is now facing serious accusations of being a potential scam. crypto investigator Atlas has identified blockchain data revealing a suspicious dump of 12 million PI tokens, which coincided with a sharp price decline.

The token’s value initially surged 113.2% to $1.6704 by May 12, only to crash 40.27% by May 14. Currently trading around $0.7364, Pi has lost 32.3% over the past week. Atlas suggests this pattern resembles a classic ’pump-and-dump’ scheme.

Despite initial excitement following its Mainnet launch, the network’s credibility is now in question. The alignment of large-scale token movements with the price drop raises significant concerns about the project’s integrity.

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