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Pi Network Faces The Biggest Scam Of 2025 With Complaints From Insiders
Network (PI) is facing its biggest crisis to date after a leading cryptocurrency investigator accused it of an internal sell-off worth 8 billion dollars related to the Pi Core Team. Posts circulating from investigator Atlas have caused a wave of panic in the PI community, with claims that over 12 million PI tokens have been dumped by a wallet allegedly controlled by core developers, coinciding with a sharp decline in the price of PI. Atlas data sharing shows that the wallet sold tokens right after the PI crash, raising suspicions of a coordinated pump-and-dump. This move coincided exactly with the recent PI crash, raising suspicions of a staged pump-and-dump strategy
According to CoinMarketCap data, PI is trading at $0.7312, down more than 35% over the past week. "Stop watching the notifications. Watch the wallet," Atlas warns, sharing a timeline of the token's behavior: May 1: The price of PI is at $0.6135. May 12: PI reached a peak of $1.6704, increasing by 113.2%. From May 14 onwards: PI has decreased by more than 56%, currently trading around $0.7270. While the Pi Core Team has not made an official statement, some supporters suggest that the movement of tokens is part of the standard testnet-to-mainnet migration process. Atlas has dismissed the explanation, pointing out the wallet links and the lack of transparency surrounding the transactions. Unlocking tokens and centralized exchange balances raises new fears Adding to the market's unease, 5.7 million PI tokens were unlocked today, flooding a market that is already under significant pressure. The amount of PI held on centralized exchanges has now surged to a record 397 million, raising concerns about another wave of sell-offs.