Is Pi Network a scam? This has been a long-standing debate in the digital assets space, and various industry stakeholders have shared their opinions on this. While the crypto network is actively developing in 2025 to create a user-friendly environment and spread wide-scale adoption, the controversy is yet to be settled.
Pi Network was initially launched in 2019 by a group of Stanford graduates, aiming to make crypto mining accessible to everyone through a simple app on mobile. With promising services through smartphone apps, it accumulated a vast number of users. However, after some time, the project faced continuous criticism, which led to its exclusion from major crypto exchanges.
Early this year, Bybit CEO Ben Zhou and a few other crypto experts labelled the Pi Network project a scam. Zhou explicitly said, “Yes, I still think you are a scam, and no, Bybit will not list a scam.”
While Zhou shared his opinion about the crypto network openly on X, other crypto exchanges like Coinbase and Binance indicated their views by excluding Pi Network from their crypto listings.
Additionally, many other crypto experts continuously call on Pi Network’s lack of security measures and its potential risks that linger over users.
Key red flags include a lack of transparency, no public third-party security audits, and a promotion model resembling a pyramid scheme without significant technical services.
If the bullish sentiment sustains, the PI value could reach as high as $2.1007 this year.
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