In just 3 hours, the price of Pi dropped nearly 50% from $1.7 to $0.99, causing significant losses for investors. What is noteworthy here is that Nicolas did this on purpose. Let's analyze: just to have beautiful data for Nicolas to present at Consensus 2025, the Pi Network engaged in the act of creating false trading volume to deceive investors. Nicolas used about $5 million to conduct nearly 200 buy and sell transactions of Pi on exchanges to artificially inflate the trading volume of Pi to over $1 billion. Many investors fell into Nicolas's trap when they FOMOed into the price of Pi, resulting in heavy losses. A project with a market cap of $10 billion lost nearly 50% of its market cap in just 3 hours, indicating that this project indeed has issues with fraudulent liquidity creation to mislead investors. It is certain that when the price of Pi hit $1.7, Nicolas used auxiliary wallets to deposit Pi onto exchanges and sold them, reaping tens of millions of dollars from investors. We are like sheep being toyed with by Nicolas, having our wool sheared.

Fortunately, Binance, Bybit, and Coinbase rejected the listing of this scam project, successfully protecting users. Additionally, the Pi Network project is intentionally blocking over 50 million users from mining Pi for 4-6 years; these accounts will not be able to receive Pi even by 2030.

#piscam #pinetwork