Bybit CEO Calls Pi Network a Scam: The Heated Battle Over Legitimacy and Listing Scandal
Pi Network has responded to a controversy triggered by a post from Bybit CEO Ben Zhou challenging the project’s legitimacy and accusing it of being a scam. On Feb. 20, an X account describing itself as the unofficial technical team of Pi Network alleged that the project had rejected a listing offer from the crypto exchange and that Bybit was losing its position in the market.
Responding to the provocation, Zhou accused Pi Network of being a scam, citing a 2023 report from Chinese authorities warning users of a project targeting the elderly. Zhou also stated that Bybit had never submitted a listing request to Pi Network and challenged the project to prove its legitimacy by addressing previous reports that questioned its operations.
Yes, I still think you are a scam, and no, Bybit will not list scam,
Zhou
Is the Crypto Project Under Fire After Zhou’s Social Media Post?
A decline in Pi Network (PI) prices followed Zhou’s social media post. The token dropped to $0.61 from a peak of $1.84 on February 20. In the days that followed, though, the token saw a sharp increase, peaking at $2.99 on February 26. Zhou also cited Chinese police warnings, to which Pi Network replied that the reports were about dishonest people posing as Pi Network instead of the company.
To be abundantly clear and to avoid any ambiguity, Pi Network is not affiliated with, did not authorize, and did not engage in any activity that is related to the police warning, and Pi Network has not been contacted by any police department in China regarding this incident.
the company
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