Bybit CEO Ben Zhou has reiterated his stance against Pi Network, labeling it a scam and confirming that Bybit will not list its token. His remarks follow persistent concerns surrounding Pi Network’s operations, further intensifying the ongoing conflict between the project and the exchange.
Zhou has repeatedly questioned Pi Network’s legitimacy and has refused to engage with what he considers a dubious venture.
In a recent statement on X, Zhou cited a 2023 warning from Chinese police that identified Pi Network as a scam, emphasizing allegations that it exploited elderly individuals by exposing their personal data and causing financial losses, including pension deductions. He also dismissed claims suggesting that Pi Network refused a Bybit listing or that the exchange failed a Know Your Business (KYB) check, labeling these assertions as completely baseless. Zhou challenged Pi Network to publicly address concerns about its legitimacy instead of deflecting with unfounded accusations.
Bybit’s CEO reinforced his position, stating that the exchange has no intention of supporting fraudulent projects. He urged the Pi Network team to provide transparency if they had nothing to conceal. Frustrated with the project’s response, Zhou called out what he perceived as deceptive tactics, stating, "If the project is legitimate and straight up, then you should come forth and address these reports so everyone can understand, but instead you choose to make up shit and do these childish attacks with no ground."
Pi Network, which promotes mobile-friendly crypto mining, officially launched its mainnet on February 20th after years of development. The project, founded by Stanford graduates Nicolas Kokkalis and Dr. Chengdiao Fan, has been supported by exchanges such as Bitget, OKX, and MEXC. Binance also announced a community vote to determine whether Pi Coin should be listed. However, despite initial backing, Pi Coin suffered a significant 60% drop in value over the past day, currently trading at $0.67.
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