Pi Network vs Bybit CEO, Explosive Scam Allegations

• Bybit CEO Ben Zhou shares Chinese police warning labeling Pi Network a scam.
• Rumors spread about Bitget deleting Pi-related posts amid delisting speculation.
• Controversy over alleged pyramid schemes in China adds to Pi Network scrutiny.

Pi Network community and Bybit CEO Ben Zhou are engaged in a heated debate over claims of delisting and listing refusals. The dispute occurs amidst rising anticipation for the February 20, mainnet launch.

The tensions began when a community member alleged that Bybit was losing market share and Zhou’s negative comments arose from a listing rejection. In response, Zhou asserted that the exchange never requested the listing in the first place and that the allegations were “complete nonsense.”

He then shared a link of an official Chinese police warning post from 2023, that labelled the crypto project as a scam targeting elderly individuals and potentially leading to data leaks and pension losses. Bybit CEO also cited “multiple other reports” questioning Pi Network’s legitimacy and its involvement in pyramid schemes in China.

If the project is legitimate and straight up, then you should come forth and address these report so everyone can understand , but instead you choose to make up shit and do these childish attack with no ground. Yes, I still think you are a scam, and no , Bybit will not list scam.

Amidst the continuing back-and-forth, Zhou stood firm, asserting his personal belief that Pi Network is a scam, and reiterated Bybit’s stance against listing such projects. He criticized its approach, claiming it engage in “childish attacks with no ground” instead of directly addressing the legitimacy concerns raised in the reports.

Pi Network’s Transition to Decentralization Amidst Controversy

Adding fuel to the fire, rumors swirl about Bitget deleting posts related to the Pi token. The tensions between Pi Network and these exchanges underscore the importance of transparency and accountability within the rapidly evolving cryptocurrency landscape.

Pi Network vs Bybit CEO, Explosive Scam Allegations 3

This action, combined with Bybit’s stance, has intensified scrutiny on the smartphone-based mining project particularly as it approaches its mainnet launch. This launch marks its transition to full decentralization, enabling external wallet transfers, exchange listings, and the creation of dApps.

The Pi Network has emphasized prioritizing KYC verification to maintain network integrity with millions of its users verified to ensure compliance and help to prevent fraud once trading begins.