The price of Pi is crashing... and the "billion-dollar fraud" lawsuit
explodes the crisis of trust while a whale collects
tens of millions!💥💥💥💥💥💥💥💥💥💥💥💥
#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #wct
The losses of the Pi Network currency deepened during trading on December 8, following the revelation of new details from a lawsuit filed against the project's developers, leading to significant pressure on the currency's price. The Pi Coin fell to $0.2200, the lowest level since November 16, and a decline of more than 23% from the peak on November 28.
The crisis stems from a lawsuit filed by Haro Moin in October, accusing the founders of Pi — Chengdiao Fan and Nikolas Kokkalis — along with Pi Community Company and SocialChain, of executing a "massive fraud" that involved undisclosed transfers and secret sales totaling up to 2 billion Pi coins, in addition to intentionally delaying the launch of the main network. The lawsuit claims that the company misled more than 60 million users into believing that the network was decentralized, while it was — according to the accusations — completely centralized and managed through three controlled nodes. No official response has been issued by the team so far.
These accusations are not new to the project; the CEO of Bybit described Pi as a "fraud" last February, justifying the refusal to list it.$SOL
