Pi Network has officially responded to serious scam allegations by Bybit CEO Ben Zhou, highlighting their position and introducing new safety measures to protect users.
Origin of the Dispute
Ben Zhou, CEO of the cryptocurrency exchange Bybit, recently raised concerns about Pi Network in social media posts. His comments coincided with a significant security breach at Bybit on February 21st, and Zhou claimed that he believes the project to be a scam.
Pi Network's Official Response
Pi Network quickly clarified that the police report mentioned by Zhou was actually about scammers impersonating Pi Network. The project also stated that it has no connection with Zhou or Bybit and that Bybit has not requested Pi Network to complete the KYB process. Additionally, they stressed that they do not support any negative comments about Bybit or Zhou. Highlighted were the project's six-year track record and a community exceeding 60 million users.
Future Plans
Pi Network released new safety guidelines to protect users. The guidelines include official Pi Network communication channels, precautionary measures for users, and clarifications on identifying legitimate communications. The release of these safety measures coincided with their Open Network launch and listings on major exchanges such as OKX.
Pi Network's professional handling of the conflict with Bybit and steps towards enhancing user safety may contribute to building trust in the project. Time will reveal if this response is sufficient to allay critics' doubts.
