Pi Network has responded to recent fraud allegations made by Bybit CEO Ben Zhou. This comes shortly after the launch of their Open Network and listings on major crypto exchanges.
What Started the Controversy?
Ben Zhou, the CEO of major cryptocurrency exchange Bybit, raised concerns about Pi Network in two recent social media posts. His comments came at a difficult time for Bybit, which experienced a significant security breach on February 21st. Zhou pointed to what he claimed was a Chinese police warning about Pi Network, alleging that he believes the project is a scam.
Pi Network's Official Response
Pi Network quickly clarified that the police report Zhou referred to was about scammers impersonating Pi Network. They stated that they have never been contacted by Chinese authorities and strongly condemned anyone attempting to deceive people by pretending to be Pi Network or its affiliates.
New Safety Guidelines Released
Pi Network published new safety guidelines to help users stay protected. They include: - A list of official Pi Network communication channels - Warnings about unofficial platforms - Confirmation that the project is seeking legal advice to deal with scammers - Clear guidelines for identifying legitimate Pi Network communications
Pi Network's professional response to these allegations and their listings on major exchanges may help build trust in the project. However, only time will tell if they can fully reassure doubters of their legitimacy.
