Pi Network has released a response to fraud allegations made by Bybit CEO Ben Zhou, following the launch of its Open Network and listing on major exchanges.
What Started the Controversy?
Ben Zhou, CEO of major crypto exchange Bybit, recently raised concerns about Pi Network in his social media posts. His comments coincidentally came during a challenging time for Bybit, which experienced a significant security breach on February 21st. Zhou claimed that a Chinese police warning about Pi Network indicated the project might be a scam.
Pi Network's Official Response
Pi Network quickly clarified that the police report Zhou mentioned was actually about scammers impersonating Pi Network. The project stated it has never been contacted by Chinese authorities regarding any issues and firmly opposes anyone attempting to deceive people by pretending to be Pi Network or an affiliate.
New Safety Guidelines Released
In response to the recent allegations, Pi Network published a new safety post which includes: - A list of official Pi Network communication channels - Warnings about using unofficial platforms - Confirmation that the project is seeking legal advice to deal with scammers - Clear guidelines on how to identify legitimate Pi Network communications
This is a crucial time for Pi Network as it has just launched its Open Network. The project's response to the allegations demonstrates professionalism and a commitment to protecting its users, which may help build trust over time.
