Pi Network Faces Biggest Scam Threat in 2025, Whistleblower Reports Ongoing Complaints

Pi Network (#PI PI#PI ) is currently facing its greatest crisis in history. An insider has accused the project of involving an internal sell-off worth $8 billion, implicating the Pi core team. A post by investigator Atlas has sparked panic within the Pi community, claiming that over 12 wallets are actively trading.

According to data from CoinMarketCap, Pi's current trading price is $0.7312, down more than 35% over the past week. Atlas warned followers to "stop paying attention to notifications, focus on wallets," and shared a timeline of token activity:

- May 1: Pi price at $0.6135
- May 12: Pi peaks at $1.6704, a 113.2% increase
- May 14 and onward: Pi drops over 56%, currently trading around $0.7270

Although the Pi core team has not issued an official statement, some supporters believe these price movements are part of the standard transition from testnet to mainnet. Atlas dismisses this explanation, pointing out a lack of transparency regarding wallet links and transactions. Concerns have also been raised about token unlocks and balances held on centralized exchanges.

Market unrest has intensified today, with 5.7 million Pi tokens unlocked and flooding into a market already under significant pressure. The amount of Pi held on centralized exchanges has surged to a record 397 million, raising fears of another wave of selling.

Market analysts warn that the circulating supply of unlocked tokens could continue to suppress Pi’s price unless buying volume increases significantly. The community is demanding explanations, with increasing accusations about wallet transparency. Cryptocurrency influencer Dr. Altcoin states that the Pi core team operates over 10,000 wallets and sub-wallets, most of which are hidden from the public. He calls for transparency and urges Pi holders to seek answers rather than blindly supporting the project.

On-chain analysts note that only seven large wallets can be fully tracked, deepening community concerns about undisclosed supply and internal control. As the supply of unlocked tokens enters the market and many wallets are monitored, analysts warn that unless investor demand rebounds, Pi’s price could remain under pressure.