One article to understand Pi Network refutes Bybit CEO Ben Zhou's allegation: The name has been impersonated We are a legal platform

Pi Network, a cryptocurrency project known for its "mobile mining" model, officially launched its main network at 4 pm on March 20, Beijing time after more than six years of development, and simultaneously launched mainstream trading platforms such as OKX, Bitget, and Gate.io.

Pi coin price soars

The current price of PI coins is about US$1.56, with an increase of more than 21% in 24 hours. Its fully diluted market value (FDV) has exceeded US$156 billion, ranking among the fourth largest cryptocurrency in the world, surpassing USDT and BNB, attracting market attention.

However, Bybit CEO Ben Zhou continues to be negative about him, and recently publicly accused Pi Network of a scam again, citing Chinese police reports that it was a scam against the elderly, while questioning the legality of the project and asking Pi Network to respond publicly.

Pi Network: Resolutely deny the allegations and safeguard its own legitimacy

In response to the above allegations, Pi Network quickly issued a statement, firmly denied it, and emphasized:

1. Impersonated in the name: Pi Network said the warning issued by the police is not directed at itself, but at malicious actors who commit fraud using their name. The official statement has never authorized any individual or organization to carry out such activities, nor has it received any relevant contact from the police. Pi Network strongly condemns all counterfeiting.

2. Not related to Bybit: Pi Network has made it clear that it has nothing to do with Bybit and its CEO Ben Zhou, and has never conducted KYB (enterprise customer review) on the Bybit platform.

3. Legal Platform: Pi Network emphasizes that its six-year development history and more than 60 million active users are enough to prove its legitimacy. The project has developed steadily, fully developed before it was officially launched, and strong community support has been established, effectively reducing project risks. Although the activities of individual malicious actors cannot be completely eliminated, this does not mean that there is a problem with the project itself.

4. Denied social attacks: Pi Network denied that it was associated with any attack on Ben Zhou's social account and condemned any act of making relevant comments under his name. The official statement has never commented on Bybit, Ben Zhou or its business on any platform and will continue to maintain this position in the future.

Pi Network's strong rebuttal and the significant increase in the price of PI coins make this incident even more confusing. The market's future development trend of Pi Network and the authenticity of Ben Zhou's allegations still need further observation.

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