Bybit’s CEO is worried about the Pi Network’s mining project. This is a big concern in the crypto exchange world.

This comes right as Pi Network launches its long-awaited Open Network. 

Bybit’s CEO, Ben Zhou, is worried about Pi Network. He doubts its legitimacy. 

The CEO of the exchange raises concerns.

 Ben Zhou first spoke out when Pi Network announced its Open Network launch date.  In his initial comments, Zhou made it clear he wanted nothing to do with Pi Network. He emphatically denied rumors about his potential involvement in the project.

 However, Zhou did not end there. Critics went after him and Bybit. In response, Zhou made even bolder claims about Pi Network.

Warnings and Investigations

Zhou posted an “official police warning” from Chinese authorities on social media. This warning, likely from 2023, indicated that the project was aimed at elderly people. Police called these activities potentially fraudulent.

The Chinese police also issued a warning in a separate investigation. In 2023, reports showed that Vietnamese authorities were investigating Pi Network’s activities.

Serious allegations about user data.

Zhou brought up more concerns about user security. According to him, the Pi Network leaks users’ personal information.

Some people doubt its operations. They worry it might risk their pensions. Bybit’s commitment shines through. Zhou confronted rumors and clarified key points about Bybit’s connection to Pi Network.

 “Bybit had made no listing request to $PI and the claim that $PI refused bybit listing or Bybit did not pass some sort of KYB of $PI is completely non-sense.” Zhou stated with conviction.

Zhou questioned Pi Network. He said that if the project is real, it must provide a clear response to these serious claims.  He concluded his post by saying that he believes Pi Network a scam, a statement likely to upset many in the Pi community.

 Mixed Reception in the Crypto World

 While Pi Network has achieved significant milestones, including:

After a delay of about three years, it is launching its Open Network. The listing of its PI token on several major exchanges is finally happening. But, the project still faces skepticism. You can see this in the comments on Binance’s recent vote about listing the PI token. It also shows in other parts of the cryptocurrency industry.

What This Means for Pi Network Users These changes bring up key questions for Pi Network users or Pioneers.

The cryptocurrency community feels uncertain. This is due to the gap between major exchange listings and serious claims from industry leaders like Zhou. Still, the project enjoys strong backing from its community.

Looking Ahead As Pi Network advances its Open Network, the crypto community is watching closely.

 The project must handle these allegations. It also needs to keep its momentum after the recent launch.

Potential users and investors should do their homework. These mixed signals highlight the need for careful thought before joining any project.

Stay tuned for updates on this story. We are especially watching for Pi Network’s responses to these serious allegations.