The PI Network has responded to a controversy that has been attacked by a post from bybit CEO Ben Zhou that challenges the project legitimacy and accuses it of being a scam.
On February 20, an X account that describes itself as the “unofficial technical team” of the PI network claiming the project has rejected an offer on the list from the crypto exchange and the Bybit “loses position” in the market.
Reply to Provocation, Zhou Accused of PI Network of being a “scam,” citing a 2023 report from Chinese authorities that warn users of a project that targets adults. “Yes. I still think you are a scam, and no, Bybit will not list the scam,” Zhou write.
Zhou also said Bybit has never submitted a list request to the PI Network and challenged the project to prove legitimate by addressing previous reports that asked its operations.
Bybit did not submit a listing request on the PI Network
In a statement to Cointelegraph, a PI network spokesman refused any correlation between the company and bybit and confirmed that BYBIT was not requested by a verification of your business (KYB), where external businesses would be reviewed to ensure that ecosystem transactions occur between the proven participants.
The spokesman confirmed Zhou’s statement, saying that the PI Network “was not requested in KYB Bybit.” The company also made it clear that there was no connection between its PI network, bybit or CEO.
The company added that it was not associated with the X account that urged Zhou. “Mr. Zhou’s posts about the PI network appear to be in response to posts made by an individual who is not expressed in the PI network,” the cointelegraph spokesman told the cointelegraph.
Zhou’s social media post was followed by a collapse in PI Network (PI) prices. On February 20, the token went from a high $ 1.84 to low $ 0.61. However, the token Surged In the following days, reaching a new all-time high of $ 2.99 in February. 26.
PI network price chart. Source: Coingecko
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PI Network addresses police warning and claims to the user base of the user
The PI Network also responded to Chinese police warnings that Zhou specified, claiming that reports were involved with fraudulent actors who indicate the PI network rather than the company itself:
“To be clear and to avoid any ambiguity, the PI network is not associated, disallowed, and does not engage in any activity associated with the police warning, and the PI network has not contacted any China police department about this incident.”
The spokesman added that the PI Network condemned any of the alleged activities of any evil actor.
The company also addressed criticism of its users, a frequent point of dispute with those who doubt. The spokesman said the 60 million users he had converted were application users.
So pi Taught Outside the Google Play Store, the app has exceeded 100 million downloads. “The 60 million dedicated pioneer numbers are actually lower than the total number of registered users in the app, which is a scale that many companies usually share,” the spokesman said.
As for the 10.8 million users shown by Blockchain explorers, a number that critics often use to break PI, the company said they are the total number of users who have created blockchain wallets.
The PI Network says the number is less than their engaged users because mobile app users must complete many steps, including one knowing your customer’s verification to create a purse and receive their PI on Mainnet.
https://www.youtube.com/watch?v=TVMMJ6RR4SO
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