Nicolas Accused of Manipulating Pi Network Price Through Fake Domain Auctions

Scam Domain Auctions Emerge After Mainnet Launch
After Pi Network officially launched its Mainnet, a series of domain auctions featuring well-known brands such as Amazon, Samsung, and Apple were organized. These brands are globally trademarked, yet they were auctioned on the Pi Network platform without the consent of the rightful owners. This act is believed to be a scheme to manipulate Pi prices, create artificial FOMO (fear of missing out), and stealthily dump Pi, causing severe financial losses to investors.

Fake Auction Wallets - A Market Manipulation Tool
According to community investigations, these auctions were conducted using fake auction wallets. For example, the domain Samsung.pi was auctioned for 100,000 Pi, while Amazon.pi reached 150,000 Pi. However, an alarming fact is that all these auction wallets could not be verified on the blockchain ledger, raising suspicions that they do not actually exist or were merely created for price manipulation.

Dumping Millions of Pi, Profiting Hundreds of Millions of Dollars
After generating artificial FOMO, Nicolas—the founder of Pi Network—has been accused of dumping hundreds of millions of Pi onto the market, pocketing hundreds of millions of dollars. According to community sources, millions of Pi continue to be sold off quietly every day, leading to a significant drop in Pi’s value and severe losses for investors.

Withdrawing All Fake Wallets, Investors Trapped
Once the Pi dumping was complete, Nicolas allegedly withdrew all the fake auction wallets. Domains such as Amazon.pi and Samsung.pi are now left with only a handful of bidders offering as little as 200–300 Pi. This suggests that the entire auction process was merely a ruse to manipulate the market, leaving many investors who spent large amounts of Pi on these auctions with nothing but losses.

Blocking 85% of Accounts, Intentionally Freezing KYC
Beyond auction manipulation, Nicolas has also been accused of blocking 85% of accounts (approximately 55 million users) from accessing their Pi by deliberately freezing or preventing them from completing the KYC (Know Your Customer) verification process. This means that despite mining Pi for years, many users are still unable to withdraw or use their tokens. Even if access is granted this year, they might have to wait until 2028 to sell their Pi. In a worst-case scenario, if their Pi is never unlocked, they may not be able to sell it even by 2030 or beyond.

Pi Buying Trap - Victims Suffer Heavy Losses
Due to the KYC blockage, many users who could not claim their Pi were forced to purchase it from secondary markets. Meanwhile, Nicolas is accused of secretly dumping Pi through fake accounts he previously created, causing massive financial damage to the community. Some investors even took out bank loans to buy Pi, hoping for price appreciation, but are now facing losses of up to 80% due to market manipulation.

Conclusion
The allegations against Nicolas regarding price manipulation, fake domain auctions, and KYC blocking have sparked outrage within the Pi Network community. If these issues are not addressed transparently, trust in the project will continue to erode, and Pi investors will bear severe consequences. #piscam