Pi Network has been accused of being a scam by Bybit CEO Ben Zhou, bringing up a police notice from 2023 that calls it a ‘scam that preys on the elderly.’
In a recent post, Bybit co-founder and CEO Ben Zhou responded to a claim made by an unofficial Pi pi-63.16%Pi Network technical team account that claims the crypto exchange was “rejected by Pi” to list on its exchange. The Pi Network is a project that enables users to mine cryptocurrency through a mobile app.
“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 nonsense,” said Zhou in his post.
Zhou retaliated by bringing up a Chinese police report that was published in 2023, warning citizens about a virtual currency scam that targets the elderly through a “get rich overnight” scheme perpetrated by actors claiming to be affiliated with the Pi Network.
“Many criminals use “π Coin” to claim that they can mine for free by simply downloading an app on their mobile phones. They also give lectures to the elderly, expand the victim group by claiming that they can “recommend rebates” by developing downlines, resell user personal information, and defraud the elderly of their pensions,” wrote the Wuxi Public Security Bureau in a translated notice. Source: crypto.news
Considering the current market trends, here are 4 altcoins that might be potential sell candidates to prevent long-term losses:
The Sandbox (SAND): With an upcoming token unlock of 205.59 million tokens worth $79.34 million, SAND's price might experience significant selling pressure. Its current price is $0.396, but it has declined 10% over the past week.
Berachain (BERA): BERA's token release will introduce 12.98 million tokens, valued at approximately $62.82 million. This increased supply could lead to market volatility, making it a potential sell candidate. BERA is currently trading at $5.31.
Aptos (APT): APT's upcoming token unlock will release 11.31 million tokens, valued at approximately $64.35 million. This event could trigger selling pressure, affecting APT's price. It's currently trading at $6.19 .
Arbitrum (ARB): With a token unlock of 92.65 million tokens worth $40.57 million, ARB's price might experience significant volatility. Its current price is $0.4749, but the increased supply could lead to a price decline .
Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. It's essential to assess your investment goals and risk tolerance before making any decisions.#altcoins
Hello, I would like to have your opinion on my portfolio (other than sarcastic comments and insults, thank you). Is there room for improvement in the current context? What would be the best strategy? Thank you