With the discussion about the legitimacy of the Pi Network gaining prominence, the project team decided to address the fraud accusations and share new relevant information. A new controversy involving Bybit has also emerged, intensifying the debate.
The controversy surrounding the Pi Network, a mobile cryptocurrency project, has gained a new chapter following statements from Bybit's CEO, Ben Zhou. He publicly labeled the Pi Network as a "fraud," citing a report from Chinese authorities that warned about a project targeting the elderly. However, the Pi Network did not remain silent in the face of these accusations.
In an exclusive statement to Cointelegraph, a spokesperson for the Pi Network rebutted the allegations. Firstly, they denied any connection between the Pi Network and Bybit or its CEO. The spokesperson stated that Bybit never requested the listing of the Pi Network on its platform, contradicting Zhou's claims.
"The Pi Network was not contacted to verify Bybit's identity (KYB)," explained the spokesperson, emphasizing that there is no link between the Pi Network and the exchange or its CEO.
Regarding the fraud accusations, the Pi Network sought to clarify the misunderstandings. The company highlighted that the Chinese police report mentioned by Zhou referred to malicious agents impersonating the project, and not to the Pi Network itself.
"To be clear, the Pi Network is not affiliated with, has not authorized, and has not participated in any activity related to this police notice. Furthermore, we have not been contacted by any Chinese authority on the matter," stated the spokesperson.
The company also responded to criticism regarding the number of users. The spokesperson explained that the 60 million announced users refer to active users of the mobile app, a number that is lower than the total registered. The 10.8 million visible users on blockchain explorers represent those who created a wallet, a step beyond merely using the app.
Towards legitimization? As the controversy continues, the detailed response from the Pi Network may represent a turning point in the perception of the project. By clarifying key doubts, the company seeks to gain credibility and reassure the crypto community, which remains skeptical.
Now, it remains to be seen whether these explanations will be sufficient to convince critics or if new revelations will reignite the debate about the legitimacy of this rising cryptocurrency.
