News 
February 21, 2025 
3 min. 
Allegations against Pi Network resurface after strong statements from Bybit’s CEO. The platform, already flagged by authorities, now faces renewed criticism after being listed on top cryptocurrency exchanges.
Controversies Surrounding Pi Network Gain Momentum
Pi Network, which presents itself as a revolutionary cryptocurrency, is back in the spotlight following bold statements from Bybit’s CEO. The executive publicly claimed that he considers the project a scam, reinforcing suspicions previously raised by authorities and members of the crypto community.
In 2023, Chinese police issued an official warning about Pi Network, stating that the scheme primarily targets elderly individuals, exploiting their personal data and, in some cases, leading to pension losses. The official document highlighted concerns regarding user privacy and the project’s legitimacy. Additionally, several other reports have already questioned the credibility of the initiative.
Bybit CEO Strengthens Accusations Against Pi Network
The controversy escalated when Bybit’s CEO refuted claims that Pi Network had rejected a listing on the exchange. According to him, the platform never submitted a listing request, and assertions that Bybit failed some kind of verification process imposed by Pi’s are unfounded.
“If the project were legitimate and transparent, it should publicly address these concerns so that everyone understands. Instead, they resort to baseless attacks,” the executive commented in a recent post on the social media platform X (formerly Twitter). He also emphasized that he still considers Pi Network a scam and that Bybit has no plans to list the coin.
Crypto Community Divided Over the Case
The statements sparked significant debate within the crypto sector, dividing investors and enthusiasts between Pi’s defenders and critics. While some users stress the need for greater transparency from the project, others argue that the accusations stem from platform rivalry.
- Looking for the best crypto casinos online? Use the Cbet bonus code and enjoy the various benefits of the casino.
Pi Network, on the other hand, has yet to issue an official statement regarding the Bybit CEO’s remarks. However, the lack of concrete responses about its operations and the history of warnings raise concerns about its legitimacy.
This case underscores the importance of thorough analysis before investing in any digital asset, especially those that promise easy gains without proper technical and regulatory validation.
