Pi Network Pushes Back Against Bybit CEO’s Fraud Allegations

The team behind Pi Network has responded to recent remarks from Bybit CEO Ben Zhou, who dismissed the project’s legitimacy and ruled out a future listing on the exchange.

Zhou’s comments followed heated online debates, with some users accusing Pi Network of being misleading.

In their statement, Pi Network’s developers clarified that the controversy stemmed from a social media post unrelated to their platform. They emphasized that online discussions can often create confusion and reiterated their commitment to transparency.

The team also addressed a warning from Chinese authorities regarding fraudulent actors misusing the Pi Network name. They asserted that they had no involvement in the matter and had not been contacted by law enforcement.

READ MORE:

Altcoin Season Takes a New Turn as Stablecoins Drive Gains, Says CryptoQuant CEO

Pi Network further distanced itself from Bybit and its CEO, denying any affiliation and stating that they had not undergone Know Your Business (KYB) verification for the exchange. Highlighting their six-year development and a user base exceeding 60 million, the team defended the project’s legitimacy.

They also disavowed a social media account that had reportedly criticized Zhou, stating that neither Pi Network nor its representatives were responsible for the comments. While facing ongoing skepticism, the team has refrained from engaging in disputes regarding Bybit or Zhou.

Despite their defense, accusations persist, with Zhou categorically labeling Pi Network a scam.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.