Pi Network faces its biggest scam in 2025, insiders complain

Pi Network $PI PI#PI is currently facing its largest crisis to date, as a leading cryptocurrency investigator accuses it of internal sell-offs totaling up to $8 billion, related to the Pi Core Team. A post from investigator Atlas has sparked panic in the PI community, claiming that over 12
According to CoinMarketCap data, the trading price of PI is $0.7312, down more than 35% in the past week. "Stop following notifications. Follow the wallet," Atlas warned, sharing a timeline of the token's behavior: May 1st: PI price was $0.6135. May 12th: PI reached a peak of $1.6704, an increase of 113.2%. Starting from May 14th: PI has dropped over 56%, currently trading at about $0.7270. Although the Pi core team has not issued an official statement, some supporters believe that the token's liquidity is part of the standard testnet to mainnet migration process. Atlas refuted this explanation, pointing out issues with wallet linkages and lack of transparency in transactions. Unlocking tokens and the balances on centralized exchanges have raised new concerns. Amid market unease, 5.7 million PI tokens were unlocked today, flooding into a market already under significant pressure. The amount of PI held on centralized exchanges has now surged to a record 397 million, sparking fears of another wave of sell-offs.
Market analysts warn that the unlocked supply could continue to suppress PI's price unless there is a significant increase in buying volume. The community demands explanations as accusations regarding wallets intensify. Cryptocurrency influencer Dr. Altcoin claims that the Pi core team operates over 10,000 wallets and sub-wallets, most of which are hidden from public view. He calls for transparency and urges PI holders to demand answers rather than blindly defend the project. Chain analysts state that only seven large wallets can be fully tracked, deepening community concerns over undisclosed supply and internal controls. As the unlocked supply enters the market, many wallets are being monitored, and market analysts warn that unless investor demand rebounds, PI's price may continue to be under pressure.