{"id":27892,"date":"2025-05-21T14:32:04","date_gmt":"2025-05-21T14:32:04","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27892"},"modified":"2025-05-21T14:32:04","modified_gmt":"2025-05-21T14:32:04","slug":"is-pi-network-pi-the-biggest-crypto-scam-of-2025-or-just-controversial-detailed-investigation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27892","title":{"rendered":"Is Pi Network (PI) The Biggest Crypto Scam of 2025 or Just Controversial? (Detailed Investigation)"},"content":{"rendered":"<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li>Pi Network has been in existence for roughly half a decade, but only recently officially launched, and its native token began trading. It has always been a victim of enhanced scrutiny and controversy, but also growing popularity.<\/li>\n<li>Here\u2019s a breakdown by Garland on X, who claimed that they unraveled why Pi Network is a massive scam.<\/li>\n<\/ul>\n<h2>Is Pi Network a Scam?<\/h2>\n<p>The post began with a brief and ironic explanation of the promises made by the team behind the project, mostly to be the future of crypto mining, which can be done on almost any phone. \u201cNo fees, no risks, just free tokens and \u201ccoming soon\u201d dreams,\u201d said Garland.<\/p>\n<p>However, the user said Pi has presented numerous red flags, not only the countless mainnet delays. One of them is a big user data leak in Vietnam back in 2021. Garland also mentioned Ben Zhou, the CEO of Bybit, who <a href=\"https:\/\/cryptopotato.com\/bybit-ceo-ben-zhou-slams-pi-network-as-token-crashes-60-after-mainnet-launch\/\" data-wpel-link=\"internal\">slammed<\/a> the project after its mainnet launch this year and subsequent token crash.<\/p>\n<p>At the time, Bybit\u2019s top exec pointed to a 2023 warning from the Chinese authorities that alleged it was a scam and added that his company has no intention to list the PI token.<\/p>\n<p>Furthermore, Garland lashed out at Pi Network\u2019s claim that they have 60 million active users, saying there are almost no active wallets and the whole scheme runs on \u201creferral loops, not real usage.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">They claim \u201c60M users.\u201d<\/p>\n<p>Reality?<\/p>\n<p>Almost no active wallets.<\/p>\n<p>The whole thing runs on referral loops, not real usage.<\/p>\n<p>And now, even the community is waking up.<\/p>\n<p>Now everyone sees it.<\/p>\n<p>\u2014 Garland (@garlandflips) <a href=\"https:\/\/twitter.com\/garlandflips\/status\/1924922778890994100?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">May 20, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>PI\u2019s Price Collapse<\/h2>\n<p>The project\u2019s native token has gone through some extremely volatile periods, even though it has been live for trading for just a few months. After launch, it shot up to a new all-time high of almost $3 before it dumped to an all-time low of $0.4 in early April.<\/p>\n<p>In the past couple of weeks, it <a href=\"https:\/\/cryptopotato.com\/why-is-pi-networks-price-up-today\/\" data-wpel-link=\"internal\">skyrocketed<\/a> to $1.7 before it <a href=\"https:\/\/cryptopotato.com\/pi-network-price-rollercoaster-continues-as-pi-dumps-by-35-in-hours\/\" data-wpel-link=\"internal\">crumbled<\/a> to $0.6 amid a hype <a href=\"https:\/\/cryptopotato.com\/important-clarifications-for-all-pi-network-users-developers-investors-details\/\" data-wpel-link=\"internal\">announcement<\/a> and a classic \u2018sell the news\u2019 event. Citing information from Dr. Picoin, a \u201crespected Pi insider,\u201d Garland said the team behind the protocol pumped the token\u2019s price only to dump their holdings to retail investors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Wallet GABT7EMP\u20264GC5G is the one to watch.<\/p>\n<p>Massive outflows exactly during the pump window.<\/p>\n<p>Piscan shows clear exits.<\/p>\n<p>If you\u2019ve seen rugs before, you know the pattern.<\/p>\n<p>Retail was bait, exit liquidity. <a href=\"https:\/\/t.co\/Cyfap0oD1J\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/Cyfap0oD1J<\/a><\/p>\n<p>\u2014 Garland (@garlandflips) <a href=\"https:\/\/twitter.com\/garlandflips\/status\/1924922795764670733?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">May 20, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Garland concluded that the Pi Network team is simply distracting the crowd with vague promises, while \u201cinsiders are quietly draining liquidity.\u201d<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/is-pi-network-pi-the-biggest-crypto-scam-of-2025-or-just-controversial-detailed-investigation\/\" rel=\"nofollow\">Is Pi Network (PI) The Biggest Crypto Scam of 2025 or Just Controversial? (Detailed Investigation)<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Pi Network has been in existence for roughly half a decade, but only recently officially launched, and its native token began trading. It has always been a victim of enhanced scrutiny and controversy, but also growing popularity. Here\u2019s a breakdown by Garland on X, who claimed that they unraveled why Pi Network is a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27892","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27892"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27892\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}