In the wake of the recent launch of Open Network and listings on major exchanges, Pi Network addresses allegations of fraud by Bybit CEO Ben Zhou.
What Started the Controversy?
Ben Zhou, head of the cryptocurrency exchange Bybit, raised doubts about Pi Network on social media, calling the project a scam. His comments coincided with a major security incident at Bybit, adding intensity to the situation.
Pi Network's Official Response
Pi Network clarified that the police report mentioned by Zhou concerned scammers impersonating Pi Network. The project stated it has never had issues with Chinese authorities and addressed the allegations straightforwardly.
Pi Network also highlighted its lack of connection with Bybit, noting that posts attacking Bybit were not related to Pi Network. The project condemned any negative remarks about Bybit or Zhou.
New Safety Guidelines Released
Pi Network released a new safety post aimed at helping users stay secure. The post includes official Pi Network communication channels and advice on identifying legitimate project communications.
This situation highlights the challenges faced by crypto projects in protecting their legitimacy. Pi Network continues to maintain professionalism, focusing on its goals despite the allegations.
