BREAKING: Bybit CEO Ben Zhou Exposes Pi Network as Massive Fraud Scheme

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Gather ’round, ladies and gentlemen (and sentient life forms of all natures), for we have a tale that pits a man named Ben Zhou—CEO of the rather praiseworthy Bybit—against an entity grandly dubbed the Pi Network. This blockchain conundrum seems to have all the charm of a rained-on picnic and as much trust as a cat in a room full of rocking chairs. 👀

In a post on X, where people share thoughts as if they possess edible nuggets of wisdom, Zhou boldly declared that Bybit wouldn’t even dream of listing Pi Network, brandishing the word “scam” like a knight wielding a slightly rusty sword. To support his righteous indignation, he supplied a 2023 article from the esteemed guardians of law in China, suggesting that Pi Network is about as trustworthy as a goblin in a jewelry store.

1. Here is an official police warning of $Pi from Chinese police back in 2023, warning the public that it’s a scam targeted towards elderly folks leaking their personal data and pensions faster than a sieve. And trust me, there are multiple other reports dancing in the ether…

— Ben Zhou (@benbybit) February 20, 2025

Chinese Authorities Warn Against Pi Network’s Fraudulent Practices

The article shared with great flourish detailed how the elderly were seduced into the magical world of Pi mining with tantalizing promises of absurd rewards—think less “helicopter rides” and more “a nice postcard from the mailman.” As it turns out, the only thing some miners received was a ticket to the realm of empty wallets! Those zealous souls even went so far as using their real IDs to verify their accounts, convinced the shiny tokens would materialize into cold hard cash, only to be met with the heartbreaking reality of… nothing. 🥴

Zhou expressed his exasperation, noting that some well-intentioned victims had lost their pensions, possibly to the corporate equivalent of a slippery banana peel. His comments followed whispers on X that posited Bybit’s hesitation to list Pi stemmed from not-so-great feelings after alleged rejection by Pi Network developers. But what did Zhou respond? Oh, nothing less than a resounding “total poppycock!” He challenged the Pi team to tackle the mounting concerns of legitimacy with the ferocity of a dragon defending its hoard, with not even a flicker of doubt remaining in the air. Embedded tweet.

Pi Network’s market debut has been akin to a grand spectacle marred by clumsy jugglers; after all, the cryptocurrency arena has been whipped into a frenzy, especially after the project’s mainnet launch today on the 20th of February. While Bybit clutches its pearls in skepticism, other exchanges like OKX and Bitget have tossed Pi a lifebuoy, claiming it’s safe to swim! 🏊‍♂️

The Pi token made its grand entrance, gleefully soaring to $1.99—a dazzling increase of 36% before gravity took its toll and sent it tumbling down faster than a chicken on a treadmill. Hours later, it essentially turned into a pumpkin, settling at a steep low of $0.9123.

Even though Pi Network has found its way onto some exchanges, its community stands divided, like a room full of toddlers debating the merits of broccoli versus dessert. The discontent has only simmered further after Zhou took to the digital sea to voice his righteous doubts.

An anonymous user unleashed a wave of frustration after a misadventure involving tokens sent off on a one-way trip to the wrong wallet address. Despite repeated cries for help (likely echoing through the digital expanse), the Pi Network team provided about as much support as a chocolate teapot. This further fueled concerns about the project’s credibility and customer service, or lack thereof. 😩

I mined that nonsense and accumulated 3k coins only to be inadvertently launched into the ether with no help from the team.

— Wicky San 👻 (@TheAnswerUSeek) February 20, 2025

But fear not! A different anonymous user cheered on Zhou, praising the brave stance against Pi Network, like a knight complimenting another for not charging into a dragon’s lair without armor. They reminded us that exchanges should tread lightly when aligning with projects, extolling Bybit for its diligence—because let’s face it, nobody wants to face the swamp gas of financial risk! 🦖

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2025-02-21 02:50