#PI 【Breaking News】Pi coin street economy appears on the streets of New York, Stanford PhD accused of "Blockchain Butcher"

On May 20, 2025, an absurd scene unfolded in front of the Charging Bull statue on Wall Street, New York: Pi Network founder Nicolas Kokkalis set up a purple tent and, under the name of "Stanford Blockchain Laboratory," attempted to sell Pi coins to passersby, with a price tag boldly stating "1 Pi = 314159 USD," attracting a crowd of financial elites. Newbie trader Jack Smith lamented to reporters that three days prior, he had invested all his savings of $100 into Pi coins, and now his account balance had dropped to zero.
■ Street Farce: Tech Elites Turn into Street Vendors
A video shot by witnesses shows Nicolas wearing a purple cloak emblazoned with the "π" symbol, shouting into a megaphone, "Don’t miss Bitcoin, don’t miss Pi coin." His stall displayed a forged "Stanford University Technology Patent Certificate" and a PS-composited "photo of signing a contract with Musk." Ironically, those who scanned the code to purchase coins on-site immediately received a fraud alert text message from the Chinese police, stating, "This project has been classified as a financial scam by 37 countries worldwide."
■ The Tears of Retail Investors: The Harvesting Chain Behind the 100 Dollar Evaporation
23-year-old Jack trembled as he displayed his trading records: on May 17, he purchased 31 Pi coins at a price of $3.2 each, but by the 19th, the price had plummeted to $0.08. This coincides with Chainalysis on-chain data — a market maker created false prosperity through 200 puppet accounts, leading to a single-day order cancellation volume reaching 83% of the trading volume, directly draining liquidity. Jack knelt on the steps of the New York Stock Exchange, shouting: "This is a cannibal game packaged with the symbol of pi!"
■ Regulatory Iron Fist: 47-story Dubai Building Becomes Evidence
At the time of the event's escalation, Interpol simultaneously disclosed: The Nicolas team used 23 billion yuan in illegal proceeds to purchase the 47-story "Pi Ecosystem Center" in Dubai, which has been sealed off. Inside the building, bundles of cash, 23 Rolls-Royces, and counterfeit "Nobel Blockchain Award" trophies were found. Data from the Chinese Ministry of Public Security shows that the project, through 478 standardized scripts, has caused losses to 35 million investors, with 94% of participants not receiving more than 1000 Pi coins.
■ Experts warn: Free mining is actually cognitive slaughter
Michael Green, a former advisor to the Federal Reserve, tore apart the Pi coin brochure during a live broadcast on CNBC, pointing out that its "Stellar Consensus Algorithm" is essentially a digital game built on Alibaba Cloud servers, with a code plagiarism rate of 91%. Even more alarming is that 60 million users' privacy data is circulating on the black market at $0.30 per record, precisely targeting scam calls for health supplements.
At this moment, Nicolas's street stall has been sealed off by SEC enforcement personnel, and the pi symbol on the purple promotional sign is distorted in the neon lights. This six-year-long "mobile mining" frenzy has finally turned into a pile of shredded paper under the feet of the Wall Street bull, amid the clash of blockchain technology and human greed.
(This article is compiled from the public security bureau's economic investigation report, Chainalysis on-chain analysis, and eyewitness testimony, the picture shows Jack kneeling portrait)