Bybit’s Irony: Calling PI a Scam While Suffering a Massive Hack

In a twist that has many in the crypto community scratching their heads, Bybit’s CEO Ben Zhou recently slammed Pi Network—dismissing its PI token as a scam based on alleged security and legitimacy concerns. Zhou’s remarks pointed to a 2023 Chinese police warning and his own experience in forex trading to justify distancing Bybit from PI.

However, irony struck hard as Bybit itself was hit by a significant security breach, resulting in millions lost. While Zhou’s strong stance was meant to shield the exchange from questionable projects, the hack has raised serious questions about Bybit’s own security protocols and risk management.

This contradiction has fueled debate across the industry: How can an exchange confidently label a project as a scam when it struggles to safeguard its own funds? The incident underscores the importance of robust security measures—even for major players—and serves as a reminder that in crypto, no one is immune to risk.

Stay tuned as this situation unfolds, and remember to always conduct your own research before making any investment decisions. What are your thoughts on Bybit’s conflicting track record? Share your insights below!