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The Pi Network is facing the biggest scam in 2025 with complaints from insiders.
The Pi Network (PI) is facing its biggest crisis yet after being accused by a leading cryptocurrency investigator of an $8 billion insider trading scheme involving the Pi Core team. The circulating posts from investigator Atlas have caused a wave of panic in the PI community, with claims that more than 12
According to CoinMarketCap data, PI is trading at $0.7312, down over 35% in the past week. "Stop watching the notifications. Watch the wallet," warns Atlas, sharing a timeline of the token's behavior: May 1: PI price at $0.6135. May 12: PI peaked at $1.6704, an increase of 113.2%. From May 14 onwards: PI has declined by over 56% and is currently trading around $0.7270. While the Pi Core group has not issued an official statement, some supporters suggest that the token movement is part of the standard transition process from the testnet to the mainnet. Atlas has dismissed this explanation, pointing to wallet links and the lack of transparency surrounding transactions. Unlocking tokens and raising balances on centralized exchanges raises new concerns. Adding to market anxiety, 5.7 million PI tokens were unlocked today, inundating a market already under significant pressure. The amount of PI held on centralized exchanges has now surged to a record 397 million, raising concerns about a new wave of selling.
Market analysts warn that the unlocked supply may continue to suppress PI prices unless buying volume increases significantly. The community is demanding an explanation amid rising accusations regarding the wallet. Cryptocurrency influencer Dr. Altcoin claims that the Pi Core team manages over 10,000 wallets and sub-wallets, most of which are hidden from public view. He is calling for transparency, urging PI holders to demand answers instead of blindly defending the project. Chain analysts have stated that only seven large wallets can be fully tracked, heightening community concerns about undisclosed supply and insider control. As the unlocked supply of this token enters the market and many wallets are monitored, market analysts warn that the price of PI may remain under pressure unless demand from investors returns.