Pi Network Under Investigation?! Bybit CEO Speaks Out

A major cryptocurrency exchange leader has raised serious concerns about the crypto mining project, Pi Network, just as it launches its long-awaited Open Network. Ben Zhou, CEO of the Bybit exchange, has shared strong warnings about Pi Network's operations and questioned its legitimacy.

Exchange CEO Raises Red Flags

Ben Zhou first spoke out when Pi Network announced its Open Network launch date. In his initial comments, Zhou made it clear he wanted nothing to do with Pi Network. He strongly denied rumors that he would be joining the project.

But Zhou didn't stop there. As criticism mounted against him and Bybit for their stance, Zhou doubled down with even stronger statements about Pi Network…

Police Warnings and Investigations

In his latest social media post, Zhou pointed to what he described as an "official police warning" from Chinese authorities. This warning, which appears to be from 2023, suggested the project was targeting elderly people in what police labeled as potentially fraudulent activities.

The Chinese police warning isn't the only investigation that has come to light. Reports from 2023 indicated that authorities in Vietnam were also looking into Pi Network's activities.

Serious Allegations About User Data

Zhou raised additional concerns about user safety. He claimed that Pi Network:

• Leaks users' personal information
• Could put people's pensions at risk
• Has faced multiple questions about its legitimate operations

Bybit's Strong Stance

Addressing rumors head-on, Zhou clarified several points about Bybit's relationship with Pi Network:

"Bybit had made no listing request to $PI and the claim that $PI refused bybit listing or Bybit did not pass some sort of KYB of $PI is completely non sense." Zhou stated firmly.

Zhou challenged Pi Network directly, stating that if the project is legitimate, it should address these serious accusations openly. He concluded his post by saying that he believes Pi Network a scam, a statement likely to upset many in the Pi community.

Mixed Reception in the Crypto World

While Pi Network has achieved significant milestones, including:

• Launching its Open Network after approximately 3 years of delays
• Getting its PI token listed on several major exchanges

The project continues to face skepticism. This can be seen clearly in the comments section of Binance's recent community vote about potentially listing the PI token, and elsewhere in the crypto sphere.

What This Means for Pi Network Users

These developments raise important questions for people involved with Pi Network, commonly known as Pioneers. The contrast between major exchange listings and serious allegations from industry leaders like Zhou creates uncertainty in the cryptocurrency community, but the project continues to see strong support from its community.

Looking Ahead

As Pi Network moves forward with its Open Network, the cryptocurrency community watches closely. The project faces the challenge of addressing these allegations while maintaining its momentum after the recent launch.

For potential users and investors, these conflicting signals suggest the importance of thorough research and careful consideration before getting involved with any project.

Stay tuned for more updates as this story develops, particularly regarding any responses from Pi Network to these serious allegations.