This is a shared post from a Pi holder in the Pi Network Trading Group. He invested in Pi and lost 735 million, the savings accumulated over 10 years as a laborer.
Through deceitful and unscrupulous means, Nicolas has hired KOLs and paid moderators in various communities to spread the word that Pi Network is the global currency, which will reach $314/pi, causing many people to believe it and be willing to borrow money from banks or deplete their savings accumulated over many years investing in Pi, leading to significant losses or total loss!
Analyzing the deceitful and dirty schemes of Nicolas.
Under the guise of being a Stanford PhD, this person has manipulated and exploited the Pi community to scam all their money.
1. Deliberately delaying the open mainnet to earn advertising money totaling hundreds of millions of dollars over many years.
2. Deliberately blocking KYC or suspending KYC for 55/65 million Pi miners so that they cannot receive Pi; even if they receive Pi in 2025, they won't be able to sell it until 2028. Nicolas will have time to secretly dump at least several billion Pi over these three years. By 2028, there will be nothing left for those 55 million accounts 😂.
3. Providing misleading information, in 2024 Nicolas claimed there would be 100 Dapps ready for the open mainnet. But when the open mainnet launched on 20/2/2025, there were no Dapps. They launched a .pi domain auction for well-known brands, which is a complete violation of trademark rights. This is clearly a blatant scam.
4. Millions of fake accounts have passed KYC using fake ID cards, which is completely contrary to what the Pi white paper claims about anti-money laundering (AML). The cloning tool is the Clone app pro, using Facebook clone and Gmail clone for KYC, all purchased at clone.new, taphoammo.net.
From now until the end of the year, the price of Pi will drop to $0.05-$0.1/pi.
Fortunately, the CEO of Bybit and the Binance exchange stopped this scam to protect consumers!!